commiss decis aid grant franc tasq sa notifi document number french 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 articl regard comment procedur articl ec treati commiss learnt april complaint competitor tasq recapitalis time consortium de réalis cdr hive vehicl set perform asset crédit lyonnai commiss wrote french author inform recapitalis oper french author repli letter date septemb confirm tasq recapitalis occas cdr earlier crédit lyonnai previou sharehold letter french author state tasq sold mean agreement sign subject condit preced juli august decemb complain wrote commiss withdraw complaint lodg tasq april letter date march commiss inform franc decis initi procedur provid articl ec treati respect measur commiss consid recapitalis tasq crédit lyonnai capit inject cdr liabl includ aid element point condit firm privatis involv aid purchas commiss decis initi proceed publish offici journal european commun commiss invit interest parti submit comment measur question french author repli letter date june file inform request commiss ietter initi procedur public commiss notic offici journal european commun letter receiv cdr date august file receiv tasq date august ii descript tasq tasq busi comput mainten servic independ comput manufactur suppli multi brand servic behalf parti activ account turnov tasq suppli servic integr deploy instal cabl system tasq stand creat merger tasq compani set externalis mainten crédit lyonnai microcomput metroservic set métrologi group subsequ crédit lyonnai renam quot tasq intern quot tasq transfer cdr part hive plan crédit lyonnai decemb tasq emploi peopl merger metroservic turnov fluctuat frf million frf million record loss shown tabl figur million frf gt tabl gt crédit lyonnai increas capit tasq stage capit increas frf million novemb prepar merger tasq metroservic compani inject capit frf million frf million decemb tasq made capit increas frf million return asset contribut tasq intern metroservic tasq transfer cdr oper carri consist capit increas offset claim amount frf million capit increas made june mean cash inject frf million cdr subscrib capit increas total frf million note abovement transact notifi commiss august year capit increas frf million cdr sold tasq frf million commiss consid initi procedur capit increas liabl includ state aid ow appar lack prospect adequ return invest commiss state open procedur suffici inform conclud sale tasq compli principl open transpar discrimin defin commiss twenti competit report allow possibl aid rule iii repli french author repli french author view capit inject crédit lyonnai tasq metroservic constitut state aid state resourc compli criterion privat investor oper market economi affect trade member state reason transact engag cdr regard constitut state aid case french author capit increas qualifi exempt articl ec treati sale tasq privat sector french author consid compli principl set commiss twenti competit report argument french author examin detail section iv comment interest parti letter date august tasq put forward argument french author submit detail file inform cdr letter date august subscrib view french author assess measur articl financ firm crédit lyonnai prior hive cdr french author firstli challeng view fund provid crédit lyonnai tasq state resourc view public enterpris fund privat sourc obtain collect save crédit lyonnai cover articl shown behaviour firm manag privat fund ascrib state present case specif support french author tasq ow small firm slight impact socio econom standpoint addit public hold tasq direct stake held seri firm decis increas capit tasq discuss crédit lyonnai board board clio includ state repres commiss consid present case crédit lyonnai resourc state resourc mean articl treati resourc bank control state sharehold resourc resourc enter balanc sheet public enterpris categoris state resourc suffici characteris invest question state action constitut aid mean articl treati characteris state resourc crédit lyonnai automat entail state aid commiss reason crédit lyonnai grant financ constitut aid bank action difficulti experienc regard aid principl base commerci market principl aim achiev margin contribut profit invest subsequ prove result loss commiss describ measur state aid establish basi specif fact measur context fail compli market economi investor principl order determin financ receiv tasq compris element aid commiss examin current posit result financ context financ grant crédit lyonnai order determin financ public resourc aid commiss appli market economi investor principl conclud state aid involv principl satisfi privat investor oper ident condit grant financ firm view risk expect profit capit increas amount frf million french author explain involv crédit lyonnai transact limit frf million assess reason transact rememb firm question set small capit frf million limit number staff immedi encount consider commerci success parti custom turnov frf million frf million previou year growth turnov made essenti increas capit take account tangibl fix asset increas desir success firm expect profit consist market growth predict expert forecast growth annum french parti mainten market period view firm start phase wrong regard loss evid crisi firm inform possess commiss invest crédit lyonnai consist action privat investor similar circumst favour predict confirm year tasq produc signific result oper level frf million excess frf million correspond high return capit allow quarter loss incur earli year absorb view factor commiss consid capit increas compris state aid increas frf million capit tasq frf million metroservic carri novemb view merger compani slowdown market growth develop microcomput inform technolog merger intend enabl tasq gain broader access parti mainten market order reposit activ focus crédit lyonnai market rapidli attain critic size enabl achiev signific economi scale time market question experienc grow number restructur merger oper tasq requir inject capit order sustain surg activ adapt structur resourc natur volum busi metroservic hand emerg posit cover loss forecast year preced merger acquisit metroservic crédit lyonnai creditor gave bank opportun hope tasq easili reach size suit economi scale make synergi firm conduct crédit lyonnai appear favour market trend consist action prudent investor form part trend merger sector base complementari natur compani concern economi scale result merger term geograph cover technic invest view factor commiss consid capit increas regard consist action prudent investor state aid french author explain capit increas frf million decemb refer initi procedur recapitalis mechan effect merger firm control crédit lyonnai time merger absorb compani tasq issu secur exchang cancel secur firm order remuner net asset contribut exchang rate adopt tasq intern métropol share tasq share base comparison method produc similar estim firm asset liabil contribut tasq assess detail accord usual principl applic area oper detail approv stock exchang committe cob auditor appoint commerci court view forego confirm transact bring financi advantag tasq commiss consid transact state aid ii financ tasq cdr cdr financ tasq occas decemb shortli hive cdr provid frf million june poor year loss frf million tasq receiv frf million august cdr sold firm frf million order examin oper note commiss state decis ec aid crédit lyonnai quot cdr resourc state resourc mean articl treati cdr wholli own subsidiari public undertak financ particip loan guarante state loss born state commiss note transact qualifi derog exempt oblig aris articl treati french author cdr exempt oblig decis ec decis note cdr oper regard subsidiari deem includ aid compon conform market economi investor principl inject fund abandon claim compli principl commun member state principl appli determin public intervent regard aid commiss consid inject capit public undertak element state aid similar circumst privat investor view expect return contribut fund made capit inject question letter date octob address minist econom financi industri affair mr van miert point cdr oper involv recapitalis asset sale loss cancel debt includ aid notifi commiss similarli sale cdr asset open transpar tender procedur notifi commiss oper de minimi aid threshold ecu exempt oblig quot recapitalis measur cdr tasq reason set examin deem approv rescu restructur plan bank sole object aid grant crédit lyonnai commiss acknowledg merit reason take bank balanc sheet risk account calcul econom rational decis cdr acknowledg view isol act measur state cdr start hive regard constitut sound manag aim minimis loss safeguard interest state order assumpt cdr act prudent investor confirm present case shown cdr sought maximis proce sale firm sale open transpar discriminatori subdivis iii recapitalis fulli justifi includ aid purchas assess transact articl commiss take account continu natur state assist tasq crédit lyonnai subsidiari cdr hive tasq cdr interrupt happen commiss approach member state easili grant aid avoid consequ articl treati commiss control provid treati set structur firm receiv aid hive debt oblig invok ration financi conduct manag hive relat hive oblig present case note recapitalis place tasq transfer cdr fund simpli convers capit debt frf million extent cdr exposur respect tasq chang year affect post merger restructur cost poor econom perform sector signific improv tasq turnov return profit loss frf million result unfair competit tasq appear recov firm good prospect viabil market growth restor financi analys carri time financi indic tasq market situat allow cdr anticip adequ return invest commiss consid circumst behaviour cdr justifi basi privat investor principl consid convers cdr loan tasq capit final materialis aid grant end last process support firm undertaken earlier crédit lyonnai hive cdr commiss consid transact state aid doubt tasq experienc consider loss throw doubt advis decis loss due unforese event whilst inevit loss explain event result creation except provis firstli tasq activ busi gener public led signific loss frf million result decid creat provis year frf million loss incur termin contract concern tasq write provis frf million residu goodwil connect mainten contract crédit lyonnai inform tasq intend futur conclud contract annual basi tasq face problem connect properti subject penalis condit provis made frf million order account extra cost rent occup busi premis problem emerg gain import event left cdr altern view commit crédit lyonnai connect time hive cdr grant crédit lyonnai repay guarante properti commit tasq enter subsidiari bank addit protocol agreement april french state crédit lyonnai authoris commiss decis ec juli aid crédit lyonnai cdr act guarantor event default tasq repay subsidiari question leas contract guarante estim frf million decis cdr inject frf million tasq assess light factor commit recit task assign cdr sell liquid hold restructur start tasq radic restructur plan end signific reduct turnov result extens control action immedi evid tasq record posit result oper level frf million frf million worth note tasq achiev highest profit french compani sector busi plan drawn stockbrok ferri collabor tasq anticip neg result equilibrium return profit return capit tax forecast year return capit result view caution return satisfactori privat investor view level long term interest rate invest risk french author state connect option recapitalis sell tasq chosen cdr case expens option estim cost wind tasq higher cost recapitalis proce sale tasq cdr ti repay guarante crédit lyonnai properti commit enter tasq recit cost termin guarante exceed frf million commiss reject reason french author consid elig wind cost determin aid content oper carri state sharehold limit share held state commiss court justic european commun similar preced reject argument extend liabil state sharehold liquid debt capit contribut ground extend liabil amalgam role state sharehold welfar state present case view fact commiss approv guarante cdr crédit lyonnai decis aid crédit lyonnai acknowledg cdr oblig regard crédit lyonnai hive creat oblig stem charg born firm decid transfer cdr cost oblig frf million purchas higher net cost recapitalis frf million minu frf million frf million commiss consid cdr act privat investor oper normal market economi condit provid shown privatis principl set commiss guarante effect transpar competit potenti buyer order obtain maximum price tasq subdivis iii decid decis cdr prudent commiss take account fact oper question part major restructur plan restor tasq normal market posit viabl concern sold condit iii possibl aid privatis tasq state notic initi procedur order determin privatis includ aid commiss appli gener criteria defin year basi individu case set competit report specif remind french author principl letter director gener competit juli letter sale public undertak compris element state aid notifi advanc articl treati principl set letter presenc aid rule notif requir condit fulfil sale take place competit uncondit tender accord discriminatori transpar procedur condit firm sold highest bidder bidder time prepar bid receiv inform carri proper valuat asset hand sale notifi advanc accord articl treati element state aid sale carri restrict procedur individu sale preced write debt state public undertak bodi sale preced convers debt equiti capit increas sale condit accept privat investor oper market economi present case french author state privatis carri specialis independ firm développ financ invit tender potenti purchas tasq includ foreign firm firm foreign control french author show invit tender transpar uncondit deadlin reason bidder fulli continu inform document submit commiss show sale tasq condit job mainten locat continu activ choic buyer french author state bidder select made firm offer differ bid highest bid chosen weak financ financ guarante compli law success bid adjust account recent valuat tasq capit june accord tasq sale agreement final price correspond top rang calcul independ expert appoint cdr mazard guerard view element commiss consid privatis tasq give rise state aid tasq purchas vi conclus commiss conclud present case take account data transact examin involv state aid tasq mean articl treati adopt decis articl capit increas frf million frf million inject tasq crédit lyonnai capit increas frf million frf million inject tasq cdr constitut aid articl ec treati articl decis address french republ brussel commiss mario monti member commiss oj footnot twenti competit report point page principl commiss refer report commun french author letter director gener competit date juli judgment court instanc case compagni national air franc commiss european commun ecr ii commiss commun member state oj oj articl articl ec treati amend amsterdam treati articl articl oj oj commiss decis ec bull oj court judgment join case kingdom spain commiss european commun hytasa ecr paragraph footnot