CASE COMMENTS: STATE AIDS – IMPUTABILITY TO THE STATE – PRIVATE MARKET INVESTOR TEST

Undertaking in difficulty: The General Court of the European Union upholds the analysis carried out by the Commission in respect of a capital injection into a firm in difficulty as regards imputability of the measure to the Member State and its non-compliance with the private investor test (Slovenia / Commission)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Elan, a Slovenian company active in the production and marketing of ski equipment and sea-going vessels such as yachts, was majority controlled by the Slovenian State through various companies. Approximately 75 % of its capital was held by 3 companies, KAD, DSU, and KAD-PPS, which were wholly owned by the Slovenian State. The shares of the other two Elan shareholder companies were majority owned by the Slovenian State. Faced with serious difficulties, Elan sought a recapitalisation from its partners in 2008 in the amount of 25 million euros. This request was rejected, as the partners were only willing to inject €10 million on condition, in particular, that

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  • European Commission - Legal Service (Brussels)

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Bruno Stromsky, Undertaking in difficulty: The General Court of the European Union upholds the analysis carried out by the Commission in respect of a capital injection into a firm in difficulty as regards imputability of the measure to the Member State and its non-compliance with the private investor test (Slovenia / Commission) , 28 January 2016, Concurrences N° 2-2016, Art. N° 78983, pp. 157-159

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