| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/08/849 (04.06.08) |
| Publication Date | 04/06/2008 |
| Content Type | News |
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The European Commission concluded that a liquidity facility and a state guarantee for German bank Sachsen LB, in the context of the sale of Sachsen LB to Landesbank Baden Württemberg (LBBW), are compatible with EC Treaty state aid rules. The Commission opened an in-depth investigation in February 2008 and has now concluded that the measures do constitute state aid but are compatible with the EC rules on rescue and restructuring aid. The measures will allow the restructuring of Sachsen LB and include compensatory measures to limit distortions of competition created by the aid. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/849&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Internal Markets |
| Countries / Regions | Germany |
