Brussels, 09/12/2013 (Agence Europe) - On 9 December, the European Commission announced that an amendment to the restructuring plan of German bank LBBW, originally approved in December 2009, was in line with EU state aid rules. In the initial restructuring decision, LBBW had committed to improve its corporate governance through a number of measures, including the conversion of LBBW into a joint-stock company (see EUROPE 10042). Germany says that the substance of the corporate governance reforms that LBBW committed to carry out has been fully implemented and that a change of the company's legal status has now become superfluous. Germany provided a study by an independent expert stating that LBBW's current state of corporate governance meets that of a stock holding company. Moreover, Germany has committed to continue maintaining the agreed corporate government measures for LBBW also after the end of the restructuring period. The Commission's assessment confirmed the corporate governance change at LBBW and therefore the Commission agreed that there is no longer a need to convert the bank into a joint-stock company. (FG/transl.fl)