Brussels, 19/02/2004 (Agence Europe) - The Commission has approved aid for the restructuring of Bankgesellschaft Berlin. In exchange Germany and the Land Berlin submitted a variety of divestiture commitments. Currently the Land holds roughly 81% of BGB's shares. The economic value of the aid will total about €9.7 billion and will consist of three measures: a capital injection of €1.755 billion by the Land Berlin into BGB of August 2001, which the Commission authorised at the time under safeguard aid; a guarantee ("risk shield") between December 2001/April 2002, which has an economic value of €6.1 billion and a repayment agreement between the Land Berlin and BGB valued at up to €1.8 billion. the Commission concludes that the restructuring measures already carried out and those planned for the future are reasonable, logical and fundamentally appropriate in order to enable BGB to restore its viability. The sale and closure of subsidiaries, notably to divest Berliner Bank, (which will reduce the dominant position of the BGB on the banking retail markets) will be sufficient for reducing distortion of competition provoked by support measures. The Commission believes that the three aid measures are strictly necessary and could not be used for extending the bank's activities to the detriment of its competitors. The BGB's real estate ventures encountered serious difficulties in 2001. To avoid the temporary closure of the establishment, its main shareholder, the Land of Berlin adopted several measures notified to the European Commission on 28 January as restructuring aid. The Commission began a formal investigation the following April (EUROPE 11 April 2002).