State Aid: Commission Approves Restructuring Plan Of Dutch Bank Insurance Company SNS REAAL
Targeted News Service |
Because of persistent problems following the write down of its property finance portfolio, the Dutch State decided in
*a
*a
*a bridge loan of
As part of the restructuring plan, the Dutch State will spin off the property finance activities into a bad bank at a transfer price above the market value, amounting to an additional aid of
In line with EU state aid rules, the Dutch authorities notified a restructuring plan to the Commission. The Commission found that
The restructuring plan ensures an adequate contribution to the cost of restructuring by the bank, its shareholders and hybrid capital holders. The restructuring plan also includes measures that will limit the distortions of competition resulting from the aid.
The Commission found that the State aid granted to
Background
The banking subsidiary is the number four in
In
The non-confidential version of the current decision will be made available under the case numbers SA.36598 in the
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