INHALT

Commission Decision (EU) 2015/507 of 16 September 2014 on the measure SA.23129 — (12/C) (ex 12/NN) (ex CP 141/2007) implemented by Germany (notified under document C(2014) 6411) Text with EEA relevance

COMMISSION DECISION (EU) 2015/507
of 16 September 2014
on the measure SA.23129 — (12/C) (ex 12/NN) (ex CP 141/2007) implemented by Germany
(notified under document C(2014) 6411)
(Only the German text is authentic)
(Text with EEA relevance)
1.
PROCEDURE
2.
DESCRIPTION OF THE MEASURES
2.1. LAND-LEASE AND SALE CONTRACT
2.2. GENERAL MANAGEMENT CONTRACT
2.3. GLOBAL LUMP-SUM CONTRACT
3.
OBSERVATIONS BY GERMANY
4.
COMMENTS BY INTERESTED PARTIES
4.1. NEUWOGES
4.1.1.
Joint versus separate assessment of the contracts at issue
4.1.2.
Land-lease and sale contract
4.1.2.1.
Purchase price
4.1.2.2.
Capitalised rent for the land
4.1.2.3.
Debt write-off pursuant to the Inherited Debt Support Law
4.1.2.4.
Modernisation
4.1.2.5.
Bidding Process
4.1.3.
General Management Contract
4.1.3.1.
The General Management Contract in the light of market expectations
4.1.3.2.
Comparison contracts
4.1.3.3.
Political motivation
4.1.4.
Alternatives
4.1.5.
State resources and imputability
4.2. BAVARIA
4.2.1.
Joint versus separate assessment of the contracts at issue
4.2.2.
The transaction did not confer an advantage upon NEUWOGES
4.2.3.
Alternatives
4.2.4.
State resources and imputability
4.3. CITY OF NEUBRANDENBURG
4.3.1.
Advantage
4.3.2.
State resources and imputability
4.4. BERLIN
LAND
4.4.1.
Advantage
4.4.2.
State resources and imputability
5.
REASONS FOR INITIATING THE FORMAL INVESTIGATION PROCEDURE
6.
NATIONAL COURT PROCEEDINGS
7.
ASSESSMENT OF THE MEASURE
7.1. EXISTENCE OF AID UNDER ARTICLE 107(1) TFEU
7.1.1.
Selective advantage conferred upon an undertaking: general principles
7.1.2.
Structure of the assessment in the present case
7.2. THE FINANCIAL IMPLICATIONS OF THE TRANSACTION FOR NEUWOGES
7.2.1.
Joint versus separate assessment of the contracts in question
7.2.2.
Background: how the sale-and-lease-back transaction works
7.2.3.
Determining the likely financial impact of the land-lease and sale contract on NEUWOGES
7.2.3.1.
Other factors
7.2.3.2.
Conclusions
7.2.4.
Determining the likely financial impact of the general management contract on NEUWOGES
7.2.4.1.
Background (Calculations)
7.2.4.2.
Financial impact analysis
7.2.4.3.
Market expectations
7.2.4.4.
Assessment
7.2.4.5.
Conclusion
7.2.5.
Overall assessment
7.3. COMPARISON WITH ALTERNATIVE BUSINESS OPTIONS
7.3.1.
Loan alternative
7.3.2.
Outright sale alternative
7.3.2.1.
Assessment in the light of the 1997 and 2007 valuations
7.3.2.2.
Comparison of outright sale and sale-and-lease-back
7.3.3.
Conclusion
7.4. BENCHMARKING
7.4.1.
Comparison contracts
7.4.2.
Bidding process
7.4.2.1.
Background
7.4.2.2.
Result of the bidding process
7.4.2.3.
Assessment
7.4.3.
Other types of transactions available at the relevant time
7.4.3.1.
Assessment framework
7.4.3.2.
Assessment
7.4.4.
Conclusion
7.5. SUPPLEMENTARY ASSESSMENT: REMAINING STATE AID ELEMENTS AND COMPATIBILITY WITH THE INTERNAL MARKET
7.5.1.
Remaining state aid elements
7.5.1.1.
Undertaking
7.5.1.2.
Use of state resources and imputability
7.5.1.3.
Selectivity
7.5.1.4.
Distortion of competition and effect on trade
7.5.1.5.
Conclusion
7.5.2.
Compatibility with the internal market pursuant to Article 107(3)(c) TFEU
7.5.2.1.
Objective of common interest
7.5.2.2.
Appropriateness of the measures
7.5.2.3.
Necessity and incentive effect
7.5.2.4.
Proportionality
7.5.2.5.
No effect on trading conditions that is contrary to the common interest
7.5.3.
Conclusion concerning the remaining state aid elements and compatibility with the internal market
7.6. CONCLUSION REGARDING THE EXISTENCE OF AID AND COMPATIBILITY WITH THE INTERNAL MARKET
Article 1
Article 2
Article 3