commiss decis march state aid grant germani elpro ag successor compani notifi document number german text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis cite procedur letter octob regist receiv date germani notifi commiss aid grant elpro ag berlin elpro decemb inform commiss addit aid grant notif amend formal withdraw notif meet held june berlin german author provid commiss inform letter date octob commiss inform germani decid initi procedur laid articl ec treati respect aid call provid relev inform commiss decis initi procedur publish offici journal european commun letter date februari commiss inform germani decid extend procedur initi septemb cover addit aid grant connect sale elpro subsidiari commiss decis extend procedur publish offici journal european commun notic commiss invit interest parti submit comment aid measur commiss receiv comment interest parti ii detail descript aid measur procedur initi inform commiss fragmentari reason germani ask provid complet inform descript aid measur take account supplementari updat inform restructur programm provid germani procedur elpro successor veb elektroprojekt anlagenbau berlin privatis june open uncondit tender procedur sold real estat dem million highest bidder consortium privat individu elpro real estat sold separ market price dem million treuhandanstalt tha proce repai elpro outstand debt bank tha bundesanstalt fur vereinigungsbedingt sonderaufgaben bv successor organis tha submit copi independ evalu properti carri time prove aid grant connect privatis elpro properti consist extens land build locat eastern part berlin owner elpro bought technisch gebäudeausrüstung berlin gmbh tga june tha highest bidder open uncondit tender procedur price dem million real estat sold separ tha subsequ market price dem million real estat compani found investor elpro aid grant context privatis tga tga autumn sole bidder open uncondit tender procedur elpro bought berlin lufttechnisch anlagen gerat gmbh bla dem million compani sold real estat proce dem million tha repai debt incur time german democrat republ loan grant meantim liabil valuat properti base independ report made commiss aid grant connect privatis buyer elpro tha enter long run disput purchas price compani claim involv disput stem fact elpro transfer owner valuat numer asset liabil provision set figur need revis elpro buyer demand repay bv part purchas price dem million asset outstand demand lower origin expect part bv enter claim increas purchas price total dem million buyer fulli reserv earmark social compens plan start bid avoid lengthi court proceed outcom uncertain bv sold claim dem million owner creditor bank financ purchas compani parti agre payment settl claim side relat privatis contract june end compani elpro tga bla carri invest agre privatis contract invest dem million plant modernis receiv assist gener commiss approv aid programm joint feder govern länder scheme improv region econom structur invest allow law begin elpro compani turnov dem million employe group consist main divis energi control wire system railwai industri facil electr technic equip build gvt outset elpro chief problem insuffici capit base owner financ acquisit bank loan caus difficulti crisi construct sector berlin began elpro tradit market eastern europ weaken compani suffer heavi loss connect larg engin project spring elpro substanti part equiti capit close insolv june order restor liquid elpro agre rescu packag bank land berlin bv tent restructur programm devis share transfer initi investor subsequ pledg creditor bank financ privatis detail commiss decis initi articl procedur plan time close gvt divis sell divis intern industri investor consult compani price waterhous instruct explor possibl sale prepar tender procedur lack interest suitabl industri investor made clear earli stage plan envisag feasibl modif need gvt divis close total cost dem million basic industri divis overhead divis reduc total cost dem million repay long term loan total dem million made elpro need inject fresh work capit continu oper dem million total cost measur dem million addit guarante facil provid limit dem million measur financ gt tabl gt guarante dem million provid commerci bank counter guarante dem million land author bv procedur initi bv loan counter guarante mention aid paragraph text base inexact figur reason commiss origin view loan dem million grant germani explain loan commiss awar counter guarante dem million dem million state agenc support financi rescu elpro loan dem million guarante total dem million compani contribut dem million fund commerci bank particip waiv claim dem million assum risk respect dem million loan guarante line dem million elpro previous receiv commerci bank guarante back state total dem million failur find industri investor substanti loss larg export contract end made adapt restructur plan envisag conclud elpro surviv contractor larg project basic industri cement steel plant export market high financ capac need risk involv elpro compet lead multin stronger market posit decid concentr activ viabl medium size compani wind remain part busi mean sale orderli liquid object strategi avoid insolv high financi liabil outstand perform bond stabilis retain part busi make financi viabl safeguard job main element final restructur plan concentr activ product assembl electr instal substat overhead line railwai urban rail transport product instal control wire system util sector assembl electr electron equip circuit breaker transform reduct workforc begin begin final end sale reduc basic industri divis commun technolog divis prove save job employe apprentic except sale branch elpro leit und energietechnik gmbh recit state aid grant connect sale reduct outstand guarante bank liabil improv manag control financ modernis data process facil organis separ elpro group part close continu transfer owner phase restructur programm reduct stock real estat leas sell main build plan implement measur began earli complet includ reduct guarante train staff modernis ongo defer decis state aid programm made cost involv phase restructur june end gt tabl gt cost financ gt tabl gt state particip phase extend guarante loan grant save elpro junior rank statu made interest free point paragraph provid guarante dem million secur proport mention bank loan fund privat sourc total cost restructur calcul amount dem million deduct gross cost dem million temporari financ amount elpro replac residu proce sale share year restructur stabilis group creditor bank decid embark phase sell retain part busi subject manag buyout elpro manag mr lelbach contract date decemb mr lelbach acquir share elpro subsidiari continu busi hold compani elpro gmbh berlin industriehold eub state includ elpro verkehrstechnik gmbh evt legal separ hold compani share eub offer member manag date end part elpro wound ceas oper employe remain activ limit meet outstand guarante credit commit liquid place commerci bank provid interim financ elpro main build sold creation eub continu phase restructur eub activ exclus german market hope enter elpro tradit ci market econom situat improv eub plan invest dem million primarili modernis electron data process facil bui equip contact line contract addit dem million earmark staff train includ train eub basic engin compani workforc engin graduat intend spend turnov research develop year obtain dem million aid gener amp programm end annual account eub evt dem million eub exclud evt gt tabl gt evt gt tabl gt equiti ratio case eub case evt owner make equiti capit contribut dem million cash provid person guarante dem bv grant loan dem million year financ half train retrain cost mention order financ invest total dem million eub receiv region invest aid dem million relev joint feder govern länder scheme bank provid guarante dem million dem million overdraft eub state provid counter guarante dem million gross reduct dem million previou guarante net state contribut dem million addit commerci bank provid separ guarante total amount dem million secur advanc payment perform bond financi measur relat manag buyout basic consist grant guarante need enabl small independ enterpris plant construct sector provid requir advanc payment perform bond develop eub order book turnov gt tabl gt tabl show fairli stabl posit develop eub work full capac group record oper result dem million tax profit dem year group expect fairli stabl pre tax profit equival turnov good averag similar enterpris sector longer difficulti eub primarili activ german rail transport market contact line substat segment main client deutsch bahn ag berlin bahn public transport oper chief competitor subsidiari siemen abb adtranz alstom gener electr compani ge spite small market share lower overhead compani competit long stand experi technic compet manag meet strict pre qualif requir impos deutsch bahn ag win seri open contract main client deutsch bahn ag interest keep medium size supplier market avoid greater degre concentr larg industri group industri electr suppli ga water wastewat treatment eub act basic engin firm electr process control equip client includ larg ga util ruhrga thyssenga gazprom local water util depend type project compet engin divis larg multin corpor engin firm similar size light elpro neg experi past eub confin smaller project cost dem million elpro eub essenti servic enterpris produc assembl electr equip equip manufactur firm capac measur man hour elpro capac million hour year fallen million hour year closur result restructur reduc eub capac hour year capac hive subsidiari approxim hour year restructur reduc capac restructur plan origin envisag complet closur basic industri section elpro divis fail bid procedur elpro bidder gener electr financ hold gmbh subsidiari ge show interest take metalwork divis build materi transport divis octob contract conclud sale divis employe newli found ge industri system gmbh berlin ge own gener electr financ hold gmbh ge link ge industri control system divis employe work germani turnov usd billion ge lead electr equip supplier worldwid ge product capac engin compani intend serv technic market support centr incorpor ge compon major invest project build materi mine industri elpro orient eastern europ ge exploit experi skill strengthen market posit germani central eastern europ ge intend market servic central eastern europ germani member state european union busi plan ge gt tabl gt divis employe made loss dem million turnov dem million loss ge start period attribut primarili intang invest dem million form train technolog transfer capitalis remain invest engin tool electron data process equip system written short period comparison result forecast actual result septemb show restructur activ ge slow result influenc delai payment expect state aid due pend state aid procedur mark improv broadli line origin plan part ge ge compet market electr industri equip main competitor larg group siemen ag cegelec alstom abb germani market share market worth eur billion ge purchas divis book asset made exclus comput softwar dem million ge commit financ neg cash flow start period mean variabl credit line cash pool credit amount dem million end septemb dem million plan germani intend provid restructur aid gt tabl gt septemb dem invest aid dem train aid disburs investor contribut total restructur cost dem million total cost rescu restructur elpro successor compani summaris dem million loan guarante nomin gt tabl gt commiss initi articl procedur doubt compat aid articl treati view sketchi inform time doubt aid line requir set guidelin state aid rescu restructur firm difficulti hereinaft quot guidelin quot critic point lack investor fact germani provid commiss comprehens restructur plan iii comment interest parti commiss receiv comment interest parti iv comment germani germani respond initi procedur answer question rais connect letter date februari august provid inform meet commiss june addit aid eventu led commiss extend procedur notifi letter date juli question commiss aid answer letter date august respons extens procedur commun germani letter date februari germani submit june comprehens written present restructur programm progress implement present discuss meet german author commiss septemb octob answer question rais meet letter date septemb decemb commiss receiv technic annex decemb inform provid germani divid main part valuat report properti sold elpro privatis elpro complet annual account period rescu restructur plan elpro germani comment commun german govern date june restructur busi plan annual account evb evt end restructur busi plan annual account ge septemb interest clariti content document summaris part ii decis assess measur conclud inform provid german author investig elpro compani subsequ merg bla tga sold posit price open uncondit tender procedur compani sold substanti real estat sold separ tha subsidiari privatis cover debt accru prior privatis independ real estat expert assess properti time valuat report made commiss reason question result conclud elpro bla tga privatis state aid form privatis problemat financi commerci point view owner financ entir transact bank elpro undercapitalis begin intern contract activ requir strong capit base client insist bid perform long term warranti bond provid extent problem evid end ow loss larg industri project debt equiti ratio reach conclud subsequ restructur elpro result structur shortcom address time privatis begin bv commerci bank financ purchas elpro owner time privatis act reach agreement settl contest claim counter claim connect purchas price agre privatis contract june sale tha owner enter claim respect number discrep origin assum balanc sheet valu payment deadlin fulfil oblig buyer claim aros primarili result failur privatis establish exact financi posit enterpris net worth determin purchas price number point privatis contract left clarif gave rise number complic disput last year light auditor comment elpro annual account commiss accept argument bv act accord standard commerci practic waiv claim dem million payment dem million renunci counter claim buyer order avoid lengthi legal proceed outcom uncertain conclud transact involv state aid mean articl treati financi particip bv land berlin elpro subsequ eub evt ge june onward constitut state aid mean articl compani produc produc good servic trade member state hamper trade aid grant form loan grant bv unlaw state aid germani fail notifi measur prior implement state guarante grant part joint applic relev feder land rule approv commiss state aid case albeit reserv larg compani elpro guarante grant land berlin approv state aid case germani undertook notifi individu case aid larg compani reason aid grant form guarante unlaw germani fail compli notif requir aid assess articl treati light criteria set guidelin elpro difficulti rescu restructur june lost half equiti capit loss continu asset posit appear annual account market particip mobil phone compani significantli exceed book amount potenti liabil outstand guarante rang reflect balanc sheet compani constitut elpro group lack liquid close insolv spring earli summer june elpro conclud agreement group financi organis rehabilit creditor bank land berlin bv state aid perspect rescu plan element futur restructur plan auditor report make clear agreement temporari measur secur liquid elpro short term time hope elpro sold singl entiti industri investor market research reveal feasibl begin bv ask auditor kpmg prepar revis detail restructur plan kpmg present report distinguish rescu period run june restructur period start expect continu end agreement june basi grant loan initi dem million final total dem million provis guarante total amount dem million period measur consid rescu aid mean guidelin term line requir set guidelin loan supplement dem million provid compani primarili financ closur group activ includ social plan employe made redund financi scope guarante limit provis liquid remain part elpro busi high unemploy berlin enorm loss employ industri justifi financi involv bv land berlin rescu elpro caus unjustifi restrict competit member state elpro ceas activ hous instal sector concentr region market elpro activ electr instal railwai industri competitor larger enjoi significantli favour financ condit elpro take account rescu aid grant commiss accept rescu period last month evid bv bank action sell compani hope buyer charg subsequ restructur realis earli feasibl adapt restructur plan delai commiss accept grant abovement rescu aid subsequ transform restructur aid complianc guidelin calcul aid element paragraph final restructur plan essenc detail updat version earlier rescu plan implement decis close loss make activ financi power industri investor found decid close larg part electr control busi divis inher high risk substanti capit requir main aim restructur plan minimis loss financ bank control elpro view high risk outstand guarante import avoid insolv proceed ensur orderli complet ongo project fulfil warranti oblig guarante period state support programm primari object safeguard job high unemploy berlin lost job industri industri job divis elpro activ close activ continu accept element coher plan continu eub evt ge plan supplement owner busi plan state aid perspect divid restructur elpro part measur favour elpro financ wind activ termin prepar activ continu separ sale end measur favour eub includ evt separ mean manag buyout decemb end measur favour ge sale metalwork build materi mine divis ge octob end complianc restructur programm requir guidelin assess activ continu closur separ impact common market eub restructur plan regard viabl view experi gain year implement recent busi result show firm concentr field competit capit intens gener profit compar medium size enterpris electr industri commiss regard eub evt separ sme legal separ entiti workforc balanc sheet total turnov relev threshold eub close threshold notif busi plan make clear eub evt singl unit commerci organisation financi perspect appli special rule sme eub restructur aid elpro main successor compani eub lead excess distort market commiss recognis elpro reduc capac elpro eub primarili engin compani measur capac term man hour loss make activ distort impact market offer made cover cost close impact elpro eub market minim small player oligopolist market domin larg group commiss acknowledg continu exist eub activ confin exclus eastern part germani improv market structur contrast roll stock segment rail transport market overcapac substat contact line segment eub activ demand segment driven replac modernis deutsch bahn ag urban rail transport organis restructur aid grant elpro consist measur loan dem million grant origin rescu aid junior rank statu dem million claim waiv approv commiss fund serv financ loss closur cost period aid intens case prolong guarante dem million grant origin rescu aid guarante dem million state honour larger amount claim connect guarante risk involv initi high privat financi institut provid guarante accord commiss usual decis make practic extrem high risk default lack secur aid intens guarante set take account dem million contribut enterpris proce sale share contribut made bank waiv claim amount dem million assum risk equival total loan dem million total privat contribut financ restructur exce commiss conclud aid minimum excess liquid provid restructur aid grant eub connect manag buyout consist primarili counter guarante net amount dem million secur credit line dem million bid perform bond total dem million provid commerci bank market term view natur project secur guarante commiss conclus loss guarantor exceed dem million amount regard state aid addit eub receiv bv loan dem million year financ train cost annual interest rate market rate eub requir secur loan aid intens fix invest dem million eub receiv dem million invest aid joint feder govern länder scheme total restructur aid amount dem million view risk assum privat bank dem million cost met privat investor dem million conclud aid minimum sale section elpro divis ge commiss share view price paid asset reflect market aid involv germani provid comprehens restructur plan mean guidelin commiss reason question viabil ge project ge berlin close integr ge worldwid industri system activ individu analysi financi result meaningless futur activ ge aim predominantli area commun market share germani signific reduct elpro capac commiss acknowledg plan capac ge employe ow natur ge activ capac measur term number emploi lower capac relev sector undu distort market expect aid grant ge complet restructur consist element grant dem million cover start loss oper aid commiss recognis financ underemploy cost dem million period avoid addit lai off train aid dem million order part financ train measur cost dem million aid intens threshold set framework train aid train project larg firm articl area view high number older employe ge supplement line point framework invest aid dem million joint feder govern länder scheme total elig invest dem million intens aid approv invest aid articl region dem million total dem million aid restructur ge grant accord gener rule applic enterpris privat investor contribut restructur cost aid consid disproportion germani requir report commiss year progress restructur eub ge restructur aid elpro eub ge vi conclus commiss find germani unlawfulli grant rescu restructur aid elpro successor compani eub ge infring articl treati basi investig decid aid regard compat common market mean articl ec treati adopt decis articl state aid germani grant elpro ag berlin elpro amount dem million compat common market mean articl treati articl state aid germani grant elpro gmbh berlin industriehold eub elpro verkehrstechnik gmbh evt amount dem million compat common market mean articl treati articl state aid germani grant ge industri system gmbh berlin amount dem million compat common market mean articl treati articl germani submit commiss yearli report progress restructur eub ge restructur aid elpro ag eub ge articl decis address germani brussel march commiss mario monti member commiss oj oj footnot footnot busi secret notif german govern commiss februari leit und energietechnik gebäudesystem und versorgungstechnik commun air condit system light footnot includ siemen abb gener electr wind closur measur continu oj read conjunct final provis guidelin oj point criteria appli provis met aid grant prior public guidelin corpor treuhand gmbh amp deutsch revis ag bericht über die prüfung de jahresabschluss der elpro ag berlin point recit corpor treuhand gmbh bericht über die prüfung de jahresabschluss der elpro ag berlin point footnot konzept zur weiteren entwicklung der elpro ag june recit commiss notic applic articl ec treati state aid form guarante oj point recit calcul credit line dem million dem million assum risk residu guarante amount dem million total dem million calcul dem million work capit provid investor dem million privat share invest dem million privat share train cost recit detail plan oj point