COMMISSION DECISION
of 20 October 2005
on the State Aid implemented by Finland for investment aid to Componenta Corporation
(notified under document number C(2005) 3871)
(Only the Finnish and Swedish versions are authentic)
(Text with EEA relevance)
(2006/900/EC)
I. PROCEDURE
II. DETAILED DESCRIPTION OF THE AID
III. COMMENTS FROM FINLAND
IV. ASSESSMENT OF THE AID
Land type |
Value according to Finland (Euro) |
For detached houses |
1 031 565 |
For terraced houses and apartment blocks |
1 136 849 |
Asemansuo |
2 358 158 |
Parks and communal land |
491 738 |
Other area (Haapala) |
49 678 |
Total land value |
5 067 988 |
Book equity of KK |
- 231 595 |
Debts of KK |
-3 340 475 |
Net value KK |
1 495 918 |
Net value 50 % of KK |
747 959 |
Price paid by city |
713 092 |
Aid |
0 |
|
Euro |
Net value KK according to Finland |
1 495 918 |
Reduction based on real estate expert valuation of Asemansuo |
876 158 |
Estimated net value of KK after this correction |
619 760 |
Further overvaluation of land according to the Commission |
At least 619 760 |
Net value of KK, based on asset value |
0 |
(amount in Euro) |
Sales/income |
Result |
Cash (year end) |
Own capital (year end) |
2000 |
19,883 |
-14,817 |
94,147 |
- 207,052 |
2001 |
25,127 |
-16,180 |
65,576 |
- 223,233 |
2002 |
50,015 |
-1,879 |
53,425 |
- 225,113 |
2003 |
48,044 |
-6,481 |
28,256 |
- 231,595 |
V. CONCLUSION
Article 1
Article 2
Article 3
Article 4
ANNEX I
Information regarding the implementation of the Commission decision (2006//EC)
1. Calculation of the amount to be recovered
Date(s) of payment(1) |
Amount of aid(2) |
Currency |
Identity of recipient |
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Comments: |
2. Recovery measures planned or already taken
3. Recovery already effected
Date(s)(3) |
Amount of aid repaid |
Currency |
Identity of recipient |
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