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Image header Agence Europe
Europe Daily Bulletin No. 8941
Contents Publication in full By article 10 / 40
GENERAL NEWS / (eu) eu/state aid

Commission expands investigation into new SNCB financing

Brussels, 03/05/2005 (Agence Europe) - Following notification of the new amounts that will increase financing envisaged by about EUR 170 million, the Commission has decided to extend review procedure opened in July 2003 on funding granted by the Société nationale des chemins de fer belges (SNCB) within the framework of restructuring of its subsidiary ABX Logistics (which operates in road, air and maritime transport and carries out logistics activities for SNCB). The new amounts that the SNCB plans to pay to its German, French and Dutch subsidiaries were notified early 2005, and the Commission is simply extending its inquiry, a press release states. Funding, amounting to around EUR 170 million, will be analysed as a whole with the amounts notified earlier, for which the Commission will mainly check that they allow ABX to achieve sustainable viability. Initial measures concerned the granting of a bridging loan of EUR 140 million for one year and the conversion into capital of ABX debts of up to EUR 91.6 million.

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