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Image header Agence Europe
Europe Daily Bulletin No. 8209
Contents Publication in full By article 25 / 39
GENERAL NEWS / (eu) eu/state aid

Green light from Commission to public-private partnership set-up for Qinetiq

Brussels, 10/05/2002 (Agence Europe) - On Tuesday, the European Commission adopted a decision through which it notes that the public-private partnership on the basis of which stands the former agency for research and assessment in defence (DERA), stemming from the British Ministry of Defence and now renamed QinetiQ, does not contain any elements of State aid. The British government decided to open the capital of DERA to a strategic investor in the framework of a public-private partnership, before floating the company on the stock market in the future. One of this partnership's aims is to allow QinetiQ to develop financing and commercial opportunities outside of State resources. The Commission feels that the selection of the strategic investor will take place while respecting a competitive procedure and that the conditions imposed in the framework of the sale are objective and non-discriminatory, no aid having been granted to the sold entity.

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