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Europe Daily Bulletin No. 9352
Contents Publication in full By article 19 / 37
GENERAL NEWS / (eu) eu/state aid

Commission orders Germany to recover €5.2 million in illegal aid granted to Biria group

Brussels, 25/01/2007 (Agence Europe) - The European Commission has decided that a so-called “silent participation” and two guarantees, granted by a public investment company and the German Land of Saxony to companies of the Biria group, a producer of bicycles, are illegal under EC Treaty state aid rules (Article 87) because they distort competition within the EU Single Market.

A “silent participation” is comparable to a loan. The investor does not obtain any shares in the company...

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€ VALUE IN DIFFERENT CURRENCIES ON 25/01/2007: