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Europe Daily Bulletin No. 7979

8 June 2001
Contents Publication in full By article 39 / 53
GENERAL NEWS / (eu) eu/state aid
Commission investigates existence of possible aid in framework of asset sale of Groditzer to Georgsmarienhutte

Brussels, 07/06/2001 (Agence Europe) - On Wednesday, the Commission decided to open the formal State aid investigation procedure concerning an asset sale concluded between the receivers of Groditzer Stahlwerke, a steel company located in the German Land of Saxony, and another German steel maker, Georgsmarienhutte (GMH).

Groditzer was privatized and sold to GMH between 1997 and mid-1999. In July 1999, the Commission adopted a negative decision ordering recovery of some DM 240 million. This...

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ECONOMIC INTERPENETRATION