Brussels, 18/07/2002 (Agence Europe) - The European Commission today decided not to raise any objections to the privatisation and restructuring plan for Société Française de Production (SFP), a company 100% state controlled and which is active in the audio-visual production sector. Since the audio-visual production sector was opened up to competition in 1986, SFP has been through several crises and the French authorities have therefore informed the Commission of their intention to sell SFP to a private investor for EUR 4.57 million The restructuring plan proposed by the buyer provides for the layoff of about 70% of SFP's workforce. The buyer will pay the cost of compulsory redundancy payments (EUR 5.3 million), while the public authorities will finance the additional social measures for those laid off (EUR 43.1 million). Examination of the notified plan has not revealed any state aid for SFP as the French. The Commission has therefore decided not to raise any objections to it as the French State will finance only social measures for the workers laid off and is not relieving the firm of the costs which it normally has to bear as a result of its legal and contractual obligations. The Commission explained that such social measures are in keeping with the social policy of Member States.