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Europe Daily Bulletin No. 9934

3 July 2009
Contents Publication in full By article 19 / 35
GENERAL NEWS / (eu) eu/state aid
KBC recapitalisation is temporarily approved

Brussels, 02/07/2009 (Agence Europe) - On 30 June, the European Commission authorised a package of measures that the Belgian authorities intend to grant to KBC Group N.V.. First, the Commission authorised a recapitalisation amounting to €3.5 billion. Then, temporary clearance was granted to impaired asset relief for six months, pending the outcome of a detailed investigation. These measures were approved on condition that Belgium submits to the Commission an in-depth restructuring plan for...

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