State aid: Commission finds Portuguese recapitalisation of Caixa Geral de Depósitos involves no new aid

Author (Corporate)
Series Title
Series Details IP/17/556 (10.03.17)
Publication Date 10/03/2017
Content Type

On March 2017 the European Commission found Portugal's plans to strengthen the capital position of fully state-owned Caixa Geral de Depósitos (CGD) by €3.9 billion are in line with EU state aid rules. The measures are carried out on market terms and therefore involve no new aid in favour of the bank.
Source Link Link to Main Source http://europa.eu/rapid/press-release_IP-17-556_en.htm
Related Links
ESO: Background information: Press Release: State aid: Commission finalises discussions on restructuring plans for Portuguese banks CGD, Banco BPI, BCP http://www.europeansources.info/record/press-release-state-aid-commission-finalises-discussions-on-restructuring-plans-for-portuguese-banks-cgd-banco-bpi-bcp/
ESO: Background information: Competition policy http://www.europeansources.info/record/competition-policy-3/
European Commission: DG Communication MEMO/17/557, 10.03.17: State aid: Commission clearance of Portuguese recapitalisation of Caixa Geral de Depósitos (CGD) - how the rules apply to bank recapitalisations http://europa.eu/rapid/press-release_MEMO-17-557_en.htm
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