Brussels, 05/04/2011 (Agence Europe) - On Tuesday 5 April, the European Commission approved a support package and restructuring plan for the ABN AMRO Group, subject to certain conditions designed to consolidate the viability of the group. These measures will ensure an appropriate own contribution to the cost of restructuring and prevent public funds being used to finance an aggressive business strategy to the detriment of competitors, who have to operate without state aid. After an in-depth investigation, opened in April 2009, and a temporary approval of additional recapitalisation measures in February 2010, the Commission concluded that, subject to these conditions, the total aid package is in line with EU rules that allow aid to remedy a serious disturbance in a member state's economy (Article 107(3)(b) of the Treaty on the Functioning of the European Union). The restructuring package has been implemented since October 2008, when the Dutch State purchased Fortis Bank Nederland and the Dutch activities of the then existing ABN AMRO Bank, which then merged to form ABN AMRO Group. Commission Vice-President with responsibility for Competition Policy Joaquín Almunia said: “The conditions set by the Commission to accompany the restructuring plan shall effectively ensure that the aid be used to make the ABN AMRO Group viable in the long term and prevent that the aid finances competition distorting initiatives”. (O.L./transl.rt)