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...