Press Release: State aid: Commission approves new French scheme of tax breaks for takeovers of ailing industrial firms

The European Commission on 1 June 2005 approved a new French scheme of tax breaks for takeovers of ailing industrial firms. The scheme was aimed at encouraging the creation of jobs in connection with such takeovers. The Commission was satisfied that the scheme complied with the state aid rules in the EC Treaty, more especially the rules on state aid to disadvantaged regions and to small and medium-sized enterprises.