Press Release: State aid: Greek mining company Ellinikos Xrysos needs to repay around €15 million in illegal subsidies

After an in-depth investigation, the European Commission has concluded that the sale of the Cassandra Mines, in 2003, to Ellinikos Xrysos was carried out below its real market value and, therefore, involved subsidies in breach of EU state aid rules. The subsidy was calculated at €14 million. As the company also did not pay transaction taxes, the total amount to be recovered from the beneficiary to the State's coffers is €15.3 million, plus interest.