INHALT

Commission Decision (EU) 2016/2068 of 29 July 2013 on State aid SA.35611 (13/C) that France plans to implement in favour of the PSA Peugeot Citroën SA Group (notified under document C(2013) 4971) (Text with EEA relevance )

COMMISSION DECISION (EU) 2016/2068
of 29 July 2013
on State aid SA.35611 (13/C) that France plans to implement in favour of the PSA Peugeot Citroën SA Group
(Only the French text is authentic)
(Text with EEA relevance)
1.
2.
2.1.
2.2.
2.2.1. ONGOING CONTRACTION OF THE EUROPEAN AUTOMOTIVE MARKET SINCE 2007
2.2.2. A COMPETITION STRUCTURE THAT DOES NOT FAVOUR GENERAL MANUFACTURERS
2.2.3. THE STRUCTURAL HANDICAPS OF THE PSA GROUP
2.3.
2.3.1. THE STATE GUARANTEE OF BPF'S BOND ISSUES
2.3.2. AID FOR THE ‘50CO
2.4.
2.4.1. RESTRUCTURING MEASURES IN RELATION TO THE INDUSTRIAL PRODUCTION SYSTEM
2.4.2. MEASURES RELATING TO THE PSA GROUP'S ADMINISTRATIVE STRUCTURE
2.4.3. THE 50CO
2.4.4. THE PSA GROUP BUSINESS PLAN
2.4.5. THE COMPENSATORY MEASURES INITIALLY NOTIFIED BY THE FRENCH AUTHORITIES
2.4.5.1.
(a)
(b)
(c)
2.4.5.2.
2.4.5.3.
2.4.5.4.
2.4.6. ESTIMATION OF RESTRUCTURING COSTS AND THEIR FINANCING
2.5.
2.5.1. FINANCING PLAN
2.5.2. PROFITABILITY AND SOLVENCY
2.5.3. PENETRATION RATE
2.5.4. THE GROUP'S DEPENDENCE
2.6.
3.
3.1.
3.2.
3.2.1. DOUBTS ABOUT A RETURN TO VIABILITY
3.2.2. DOUBTS ABOUT THE COMPENSATORY MEASURES
4.
4.1.
4.2.
4.3.
4.3.1. ON THE ASSUMPTIONS OF MARKET TRENDS
4.3.2. ON THE LEVELS OF USE OF THE PSA GROUP'S CAPACITY AND THE DIVERSIFICATION OF ITS SALES
4.3.3. ON THE ROLE PLAYED BY THE 50CO
(a)
(b)
(i)
(ii)
(iii)
4.4.
4.4.1. GENERAL COMMENTS ON THE CHARACTERISATION OF THE PLANNED MEASURES AS GENERAL COMPENSATORY MEASURES AND THEIR EXTENT
4.4.2. SPECIFIC COMMENTS ON THE VARIOUS COMPENSATORY MEASURES PROPOSED
(a)
(i)
(ii)
(iii)
(b)
(c)
(d)
5.
5.1.
5.2.
5.3.
5.3.1. RESTORING VIABILITY
5.3.2. THE 50CO
5.3.3. THE IMPACT OF THE GUARANTEE ON THE MARKET
5.3.4. THE COMPENSATORY MEASURES
5.4.
5.5.
6.
6.1.
6.2.
6.3.
6.3.1. RESTORING THE PSA GROUP'S VIABILITY
6.3.2. THE AID ELEMENT IN THE GUARANTEE AND ITS IMPACT ON THE MARKET
6.3.3. THE COMPENSATORY MEASURES
6.3.4. THE 50CO
6.4.
6.5.
7.
7.1.
7.2.
7.3.
7.4.
7.5.
7.6.
8.
8.1.
8.1.1. STATE GUARANTEE TO THE BANKING SUBSIDIARY OF THE PSA GROUP
8.1.1.1.
8.1.1.2.
8.1.1.3.
8.1.1.4.
8.1.2. PUBLIC SUPPORT FOR THE PSA GROUP FOR THE CONDUCT OF THE 50CO
8.1.2.1.
8.1.2.2.
8.1.2.3.
8.1.2.4.
8.2.
8.3.
8.4.
8.4.1. THE PSA GROUP RESTRUCTURING PLAN
8.4.1.1.
8.4.1.2.
(a)
(b)
(i)
(ii)
(iii)
(iv)
8.4.2. BPF'S VIABILITY PLAN
8.5.
8.5.1. EXAMINATION OF THE NEED FOR COMPENSATORY MEASURES
8.5.2. MECHANISM FOR INCREASING THE COST OF THE GUARANTEE IN LINE WITH BPF'S PENETRATION RATE
8.5.3. COMMITMENT IN RESPECT OF THE FINANCING MARGIN GRANTED TO DEALERS
8.5.4. CONVERSION OF THE GRANTS INITIALLY ENVISAGED FOR THE 50CO
8.5.5. COMMITMENT TO REFRAIN FROM ACQUISITIONS
8.5.6. NEED FOR A COMPENSATORY MEASURE CONCERNING THE FMEA
8.6.
8.7.
9.
Article 1
Article 2
ANNEX
1. APPOINTMENT OF AN INDEPENDENT EXPERT
2. MISSIONS AND OBLIGATIONS OF THE INDEPENDENT EXPERT
3. OBLIGATIONS INCUMBENT UPON THE PSA GROUP
4. REPLACEMENT, DISCHARGE AND APPOINTMENT OF A NEW INDEPENDENT EXPERT