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Europe Daily Bulletin No. 8361

14 December 2002
Contents Publication in full By article 27 / 41
GENERAL NEWS / (eu) eu/state aid
Commission approves rescue aid for Grundig AG

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...

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