Competition weekly news summary
3 July 2015


State aid

  • Commission approves €270 million in investment aid for the expansion of the Port of Calais
    2 July 2015
    The European Commission has found that public funding of €270 million to build a new cross‑Channel terminal in the Port of Calais is in line with EU state aid rules. The new infrastructure furthers EU transport policy objectives without unduly distorting competition in the internal market. The EU Commissioner for Competiton Ms Vestager, welcomed the decision: 'This is a good example of how Member States can boost infrastructure investments without damaging competition in the Single Market. Too many projects: This French project has attracted private funding. Without this funding the project could not have started. Furthermore, this is a trans-European project that will enable a better flow of cross-Channel links and stronger trade exchanges between the UK, Ireland and mainland Europe.
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  • Commission approves amended restructuring plan of Austrian bank ÖVAG
    2 July 2015
    The European Commission has found the amended restructuring plan of Österreichische Volksbanken AG (ÖVAG) and the Volksbanken-Verbund (Verbund) to be in line with EU state aid rules. The Austrian Volksbanken sector consists of a central institute, ÖVAG, and the Verbund, which includes over 50 primary banks and other affiliates. The Commission concluded in particular that the amendments will fundamentally restructure the Austrian Volksbanken sector in order to make it viable in the long-term without further state support. The changes became necessary after an assessment by the European Central Bank (ECB) identified a capital shortfall. This assessment was carried out in October 2014, in the context of the Single Supervisory Mechanism (SSM).
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Mergers

  • Commission approves acquisition of rotating equipment manufacturer Dresser-Rand by Siemens
    29 June 2015
    The European Commission has approved under the EU Merger Regulation the proposed acquisition of rotating equipment manufacturer Dresser-Rand of the US by Siemens of Germany. Both companies supply turbo compressors as well as the engines which drive these compressors ("drivers"). There are different kinds of drivers including aero-derivative gas turbines ("ADGT"), industrial gas turbines ("IGT"), steam turbines and electric motors. The combination of a turbo compressor with a driver is called a turbo compressor train. Turbo compressor trains are widely used for various applications in the oil and gas industry, i.e. exploration and production of oil and gas, their transport and storage, as well as for the refining and production of various oil and gas products.
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Court

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Published by the Competition Directorate General of the European Commission. The content of this publication does not necessarily reflect the official position of the European Commission. Neither the Commission nor any person acting on its behalf is responsible for the use which might be made of the above information.

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