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Image header Agence Europe
Europe Daily Bulletin No. 9861
Contents Publication in full By article 34 / 43
GENERAL NEWS / (eu) eu/state aid

In-depth investigation into restructuring of Dexia

Brussels, 13/03/2009 (Agence Europe) -On Friday 13 March, the European Commission decided to open an in-depth investigation to verify that the restructuring plan of Dexia will enable the banking group to re-establish its long-term viability. This plan is accompanied by a recapitalisation of 6.4 billion euros, announced in September 2008, and the keeping in place of the guarantee of up to 150 billion euros granted jointly by Belgium, France and Luxembourg. This guarantee has already been approved as rescue aid by a decision of 19 November 2008. At the same time, the Commission has authorised a guarantee from the Belgian and French States of a portfolio of assets of a total amount of 16.9 billion dollars, a measure which has been judged vital to enable the sale of FSA, the American subsidiary of Dexia, which is a required condition for the bank's return to viability. In line with the decision of 19 November 2008, the Member States have notified the Commission of a plan for the restructuring of the bank. (O.L./trans.fl)

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