INHALT

2013/246/EU: Commission Decision of 7 March 2012 on State aid No SA.29041 (C 28/2009, ex N 433/2009) Support measures in favour of Oltchim SA Râmnicu Vâlcea (notified under document C(2012) 1369) Text with EEA relevance

COMMISSION DECISION
of 7 March 2012
on State aid No SA.29041 (C 28/2009, ex N 433/2009) Support measures in favour of Oltchim SA Râmnicu Vâlcea
(notified under document C(2012) 1369)
(Only the Romanian text is authentic)
(Text with EEA relevance)
(2013/246/EU)
I.
PROCEDURE
II.
BACKGROUND TO THE CASE
II.1.
The company
II.2.
Events prior to Romania's Accession to the EU
II.2.1.
The origin of the public debt
II.2.2.
The 2003 debt conversion
II.2.3.
Further accumulated debt
II.3.
Events after Romania's accession to the EU
II.3.1.
Evolution of the debt
II.3.2.
The second debt conversion
II.4.
Oltchim's current situation
III.
THE OPENING DECISION
IV.
ROMANIA'S COMMENTS ON THE OPENING DECISION
V.
COMMENTS FROM INTERESTED PARTIES
VI.
ROMANIA'S COMMENTS ON THE OBSERVATIONS OF INTERESTED PARTIES
VII.
WITHDRAWAL OF THE NOTIFICATION WITH RESPECT TO THE STATE GUARANTEE (MEASURE 2)
VIII.
ROMANIA'S POSITION AFTER THE WITHDRAWAL OF MEASURE 2
VIII.1.
Modification of measure 1 - Romania's intention to privatise
VIII.2.
Developments regarding measure 3 - the interest agreement
VIII.3.
Romania's arguments in view of the privatisation intention
IX.
ASSESSMENT
IX.1.
General
IX.2.
Competence of the Commission prior to accession
IX.3.
Existence of aid: Advantage
IX.3.1.
The private creditor test
IX.3.2.
Recovery of the public debt – Assessment of measure 3
IX.3.3.
The debt conversion – measure 1
Figure 1
Oltchim's share price development on the Bucharest Stock Exchange 23.2.2011-23.2.2012
IX.4.
Conclusion on the advantage criterion
X.
CONCLUSION
Article 1
Article 2
Article 3
Article 4