Press Release: State aid: Commission approves revised restructuring plan for NCG following sale to Banesco Group

The European Commission concluded on the 20 June 2014 that the sale of the Spanish bank NCG Banco to Banesco Group and proposed amendments to its restructuring plan were in line with EU state aid rules. The sale will facilitate an orderly resolution of the bank, without resulting in additional state aid to NCG or the buyer. The proposed amendments do not endanger the restoration of NCG's long-term viability nor do they increase the risk of competition distortions in the Single Market.

European Commission: DG Competition http://ec.europa.eu/competition/index_en.html

ESO: Background information: State aid: Commission approves restructuring plans of Spanish banks BFA/Bankia, NCG Banco, Catalunya Banc and Banco de Valencia http://www.europeansources.info/record/press-release-state-aid-commission-approves-restructuring-plans-of-spanish-banks-bfa-bankia-ncg-banco-catalunya-banc-and-banco-de-valencia/

ESO: Background Information: State aid: Commission presents guidelines on restructuring aid to banks http://www.europeansources.info/record/press-release-state-aid-commission-presents-guidelines-on-restructuring-aid-to-banks/

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