Press Release: State aid: European Commission finds 2009 state measures for Hungarian fertiliser producer Péti Nitrogénművek partly incompatible

The European Commission has concluded that part of the state support granted in 2009 to fertiliser producer Péti Nitrogénművek infringed EU state aid rules. After an in-depth investigation, the Commission found that loans amounting to around €88 million granted by the Hungarian Development Bank MFB and covered by state guarantees constitute illegal state aid. The aid, which was not notified by Hungary, was nevertheless found to be compatible with the Commission's temporary rules for the economic crisis but the remuneration of the State was insufficient and the State must recover part of it.