2011/526/EU: Commission Decision of 29 September 2010 on State aid C 32/09 (ex NN... (32011D0526)
2011/526/EU: Commission Decision of 29 September 2010 on State aid C 32/09 (ex NN 50/09) implemented by Germany for the restructuring of Sparkasse KölnBonn (notified under document C(2010) 6470) Text with EEA relevance
- COMMISSION DECISION
- of 29 September 2010
- on State aid C 32/09 (ex NN 50/09) implemented by Germany for the restructuring of Sparkasse KölnBonn
- (notified under document C(2010) 6470)
- (Only the German text is authentic)
- (Text with EEA relevance)
- (2011/526/EU)
- 1.
- PROCEDURE
- 2.
- DESCRIPTION OF THE BENEFICIARY
- 3.
- THE AID MEASURES
- 3.1.
- Certificates of participation (
- Genussrechte
- )
- 3.2.
- Silent participation
- 4.
- THE RESTRUCTURING PLAN
- 4.1.
- Description of the restructuring plan
- 4.2.
- Restructuring of subsidiaries
- 4.3.
- Ability to return to viability in base and stress case
- 4.4.
- Corporate governance
- 4.5.
- Hybrids
- 4.6.
- WestLB
- 4.7.
- Partial early exit
- 5.
- GROUNDS FOR INITIATING THE PROCEDURE ON THE RECAPITALISATION MEASURE
- 6.
- COMMENTS FROM INTERESTED PARTIES
- 7.
- COMMENTS FROM GERMANY
- 8.
- ASSESSMENT
- 8.1.
- Existence and amount of the aid
- 8.2.
- Compatibility of the aid with the internal market
- 8.2.1.
- Legal basis for the compatibility assessment
- 8.2.2.
- Compatibility of the restructuring aid with the internal market
- (i)
- Restoration of long-term viability
- (ii)
- Own contribution/burden-sharing
- (iii)
- Measures limiting the distortion of competition
- 8.2.3.
- Monitoring
- 9.
- CONCLUSION
- Article 1
- Article 2
- ANNEX
- Case C 32/09 — Sparkasse KölnBonn
- COMMITMENTS TOWARDS THE EUROPEAN COMMISSION
- ANNEX I
- Section A —
- Commitments
- 4.
- Reduction of large and cash credit exposures
- Section B —
- The business to be divested
- Section C —
- Divestment-related commitments
- Preservation of the viability, marketability and competitiveness of the business to be divested
- Hold-separate obligations of Sparkasse KölnBonn towards the business to be divested
- Non-solicitation clause
- Due diligence
- Section D —
- The purchaser
- Section E —
- Other commitments
- 29.
- Reduction of the total assets:
- ANNEX II
- APPOINTMENT AND DUTIES OF THE MONITORING TRUSTEE
- I.
- The Monitoring Trustee
- II.
- Appointment of the Monitoring Trustee
- Proposal by the Federal Republic of Germany
- Approval or rejection by the Commission
- New proposal by the Federal Republic of Germany
- Monitoring Trustee nominated by the Commission
- III.
- The duties of the Monitoring Trustee
- Duties and obligations of the Monitoring Trustee
- ANNEX III
- APPOINTMENT AND DUTIES OF THE DIVESTITURE TRUSTEE
- THE DIVESTITURE TRUSTEE
- I.
- The Divestiture Trustee
- II.
- Appointment of the Divestiture Trustee
- Proposal by the Federal Republic of Germany
- Approval or rejection by the Commission
- New proposal by the Federal Republic of Germany
- Divestiture Trustee nominated by the Commission
- III.
- The duties of the Divestiture Trustee
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