Brussels, 13/12/2002 (Agence Europe) - On 11 December, the European Commission approved rescue aid for the German electronics manufacturer Grundig AG.
End-September 2002, Germany notified its intention to grant rescue aid in favour of the company that was close to bankruptcy. This aid consists in a 90% guarantee covering a loan of over EUR 45 million for a six-month period. The German Land of Bavaria will provide the guarantee, and a consortium of five German banks is providing the...