The French Administrative Supreme Court finds no State aid in case of an open and non-discriminatory tendering privatisation procedure (CIC / SG-BNP-CCF)

The liberalization of the bank sector in the European Union initiated various market restructuring, mergers and privatizations. In the case at hands, the French State decided to transfer to the private sector its majority participation in the bank “Compagnie Financière de C.I.C. et de l'Union européenne”. At the end of a tendering procedure, the “ Banque Fédérative du Crédit Mutuel ” acquired 67% of the “Compagnie Financière” capital. Three private banks, the Société Générale, Banque Nationale de Paris (BNP), Crédit Commercial de France (CCF), challenged the tendering procedure. They claimed before the French Administrative Supreme Court that the minister committed an excess of powers by organizing the tender in a way which led to disqualification of other applicants and to the choice of the “Banque

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  • European Court of Justice (Luxembourg)

Quotation

Georges Vallindas, The French Administrative Supreme Court finds no State aid in case of an open and non-discriminatory tendering privatisation procedure (CIC / SG-BNP-CCF), 18 December 1998, e-Competitions December 1998, Art. N° 13364

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