Press Release: State aid: Commission authorises €5.2 million restructuring aid for Spanish catering company Vanyera 3

On 31 January, 2008, the European Commission authorised, under EC Treaty state aid rules, restructuring aid amounting to €5.2 million, in the form of a guarantee, that the regional government of the Canary Islands intends to grant to the catering company Vanyera 3. After a revision of the restructuring plan to ensure the company's return to long-term viability and to establish compensatory measures limiting the distortion of competition, the Commission found the aid compatible with EC Treaty state aid rules.