ANNOUNCEMENT 25 Nov 2013In November 2013, the government of France announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Letter from the EC to France, 16.09.2014 (in French)
EC press release on initiating investigation (in English)
EC press release on closing investigation (in English)
On 25 November 2013, the French subsidiary of the Spanish appliance manufacturer FagorBrandt received a loan at subsidised interest rates worth 10 million EUR. Furthermore, on 10 April 2014, the company obtained a subsidised loan of 47.5 million EUR.
Later that year, on 16 September 2014, the European Commission decided to initiate an investigation on whether the state aid received by FagorBrandt was compatible with EU law. During the investigation, the interest rates were increased retroactively and the company paid back the amount of state aid received.
As a consequence, the Commission decided to close the investigation on 15 March 2016.
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.