Case SA.48394 | Restructuring support for Romanian National Uranium Company

Further information:

On 12 June 2017, Romania notified to the European Commission a plan for the restructuring of Compania Nationala a Uraniului SA ('CNU', the National Uranium Company). It followed an urgent rescue aid loan of around €13.3 million to keep the company afloat, which the Commission temporarily approved in September 2016.

CNU found itself in financial difficulty since the loss of its main client, the nuclear energy producer Societatea Nationala Nuclearelectrica. The notified restructuring plan foresaw various public support measures.

EU State aid rules only allow a State intervention for a company in financial difficulty under specific conditions, requiring in particular that the company is subject to a sound restructuring plan to ensure its return to long-term viability, that the company contributes to the cost of its restructuring and that any competition distortions are limited.

Summary:

The European Commission announced on 8 May 2018 the opening an in-depth investigation to assess whether various public support measures from Romania in favour of the National Uranium Company were in line with EU rules on State aid to companies in difficulty.

• Primary Source

European Commission: Press Release, 08.08.18: Commission opens in-depth investigation into restructuring support for Romanian National Uranium Company http://europa.eu/rapid/press-release_IP-18-3733_en.htm

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