The EU Commission finds that a Romanian petrochemical company received around €335 million of incompatible aid (Oltchim)

State aid: Romania needs to recover incompatible aid from petrochemical company Oltchim* The European Commission has found that Romanian petrochemical company Oltchim received around €335 million of incompatible aid from Romania, since the company's failed privatisation in September 2012. Romania must now recover this aid from Oltchim. At the same time, the Commission has concluded that the buyers of Oltchim's assets do not benefit from past aid granted to Oltchim because they have acquired the assets on market terms. This means that the responsibility to repay the aid remains with Oltchim. Commissioner Margrethe Vestager, in charge of competition policy, said: "Over the years, Oltchim has benefitted from the waiver of significant amounts of public debts. Our investigation found

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European Commission, The EU Commission finds that a Romanian petrochemical company received around €335 million of incompatible aid (Oltchim), 17 December 2018, e-Competitions Bulletin December 2018, Art. N° 88743

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