The asset relief measure by the State of Baden-Württemberg in favour of the Landesbank Baden-Württemberg for two portfolios of impaired structured securities represents state aid within the meaning of Article 107(1) TFEU.
2010/395/: Commission Decision of 15 December 2009 on State aid C 17/09 (ex N 265/09) by Germany for the restructuring of Landesbank Baden-Württemberg (notified under document C(2009) 9955) Text with EEA relevance
2010/395/: Commission Decision of 15 December 2009 on State aid C 17/09 (ex N 265/09) by Germany for the restructuring of Landesbank Baden-Württemberg (notified under document C(2009) 9955) Text with EEA relevance
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union and in particular the first subparagraph of Article 108(2) thereof(1),
Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof,
Having called on the Member States and other interested parties to submit their comments(2) and having regard to their comments,
Whereas:
HAS ADOPTED THE FOLLOWING DECISION:
Article 1
The aid is compatible with the internal market.
Article 2
The restructuring aid which was granted to the Landesbank Baden-Württemberg by its state shareholders represents aid within the meaning of Article 107(1) TFEU.
The aid is compatible with the internal market on condition that the commitments in the annex to this Decision are complied with.
Article 3
This Decision is addressed to the Federal Republic of Germany.
Done at Brussels, 15 December 2009.
For the Commission
Neelie Kroes
Member of the Commission