commiss decis april aid grant itali enirisors spa italian text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area point articl thereof give notic parti concern accord aforement articl submit comment letter date januari commiss inform italian govern decis open procedur pursuant articl treati respect aid enirisors group compani led compani hereinaft refer enirisors enirisors own italian state hold compani eni recapitalis itl billion year commiss decid initi procedur regard capit inject commiss decis open procedur publish offici journal european commun invit member state interest parti submit comment matter italian govern gave reaction letter juli august januari member state interest parti submit comment commiss ii answer letter initi procedur italian govern submit detail inform restructur plan enirisors express gener opinion recapitalis undertaken state public fund purpos recapitalis undertaken eni favour enirisors pass privat investor test state aid recapitalis possibl constitut state aid compat common market point italian govern claim recapitalis undertaken directli state eni oper eni respect subsidiari enirisors automat attribut italian state italian govern observ eni transform juli public econom bodi public limit compani eni share held ministri treasuri eni longer subject govern direct novemb ministri treasuri sold eni share total sum itl billion stock market milan london york recapitalis undertaken eni fund deriv eni compani oper sector deriv state resourc point italian govern maintain recapitalis carri exclus eni fund purpos financ drastic programm closur liquid restructur compani core activ recapitalis costli option compani compar composit proceed italian govern argu behaviour recapitalis line reason court justic european commun judgment case itali commiss court held hold compani limit period bear loss subsidiari order ceas oper condit court ad decis base likelihood indirect materi gain consider safeguard group imag orient activ altern italian govern opinion set point recapitalis compat state aid mean point articl promot long term develop disadvantag region suffer industri crisi facilit restructur import econom activ advers affect trade condit extent contrari common interest assess recapitalis light commun guidelin state aid rescu restructur firm difficulti hereinaft relev commun guidelin lead conclus italian govern claim line requir impos guidelin iii enirisors set oper hold compani intend optimis econom financi resourc eni group basic object entrust administr group hold activ singl centr respons mine ferrou metal extract pyrit vertic integr sulphur acid coal mine oper carbosulci control agip minier compani product site coal mine abroad coke product itali coal coke market itali abroad control agipco compani product site metallurgi ferrou metal control nuova samim compani product site inorgan chemistri sector barium boron chlorin caustic soda potash abras synthes product research advanc materi control samatec compani product site eni sharehold decid disengag core busi make core busi profit separ loss make activ final sell profit part end enirisors formul plan aid involv seri measur activ control agipco coal coke achiev gener satisfactori econom result complet privatis entail case coke closur product site enabl obtain activ activ control agip minier sell compani hold abroad econom viabl interest privat oper liquid closur product site mine activ itali notwithstand high cost make good environment damag sever packag activ state structur loss mine ferrou metal pyrit coal restructur modest invest cost sulphur acid oper result upvalu sold activ control samatec inorgan chemic abras liquid activ closur product site state structur loss abras sell activ administ oper closur event entail substanti cost make good environment damag barium boron chlorin caustic soda potash artifici diamond activ control nuova samim metallurgi sell compani area busi arous evid interest part oper rise heavi liquid closur expenditur restructur primari metallurgi purpos subsequ privatis liquid unsal margin activ time enirisors plan carri seri compani rationalis scheme made concentr compani previous head sector area eni group singl centr respons basi plan action compani reorganis lead compani area oper agip minier agipco nuova samim terfin samatec minor compani temav ardisia unicok merg incorpor enirisors administr headquart reduc staff reduc march closur total uneconom metallurg miscellan mine industri site put back order closur minor metallurg product line liquid uneconom mine miscellan compani rescu standpoint privat oper sim carbosulci mineraria campiano attività meridionali simur minor compani commerci financi compani longer serv purpos nonfermet eurobatex nuova samim metal agipco intern minor compani sell compani interest oper compani coal coke sector agipco usa agipco south africa agipco australia carbon del guasar nuova italiana coke minor compani sell liquid inorgan chemic abras compani società chimica di larderello società sali di bario euros supradiam karl hertel sell oper compani area busi sector aluminium sacal secondari process copper plant moncalieri piev vergont sulmona steel work flue ga process pont nossa secondari lead plant paderno dugnano marcianis sell comerint engin train servic compani manifattur cotonier del mezzogiorno result sell off merger incorpor enirisors compani longer serv purpos liquid compani number compani oper reduc period march pertusola sud nuova solmin control enirisors enirisors number product site oper reduc march direct control enirisors integr complex portovesm san gavino zinc primari lead porto marghera plant copper bronz brass divis paderno dugnano control pertusola sud croton zinc control nuova solmin scarlino sulphur acid number job fallen decemb april includ employe compani liquid longer oper compani mention plant constitut core busi enirisors copper lead zinc sulphur acid plan core busi made profit sell close compani plant leav product site current situat bronz brass divis paderno dugnano sold regard porto marghera plant letter intent sign potenti buyer pertusola sud close scrap end sold interest buyer turn complex product unit produc nickel leav product site portovesm san gavino zinc lead scarlino sulphur acid final core busi enirisors year period enirisors receiv sharehold recapitalis itl billion implement plan period enirisors expect sell compani area busi receiv payment itl billion breakdown receipt sale includ estim incom sell off take place itl billion deriv sell compani coal coke sector ii itl billion sell particip interest held eni intern hold sofid padana assicurazion iii itl billion sell metallurg area busi nuova samim iv itl billion sell minor compani sector total resourc deriv payment sharehold incom sale amount itl billion year period itl billion reduc initi indebted enirisors nuova samim merg enirisors primarili financ compani eni group itl billion cover deficit includ previou loss miner miscellan compani liquid oper activ ceas cost liquid relat primarili personnel cost employe retain date departur cost redeploi provid sever payment staff environment expens restor site remov slag breakdown contribut cover requir liquid itl billion compani control agip minier sim simur mineraria campiano agip australia ii itl billion carbosulci iii itl billion samatec iv itl billion compani miscellan area terfin itl billion minor compani itl billion restructur nuova somin undertaken period termin pyrit extract oper closur mine commenc activ repair environment damag reconvers plant product sulphur acid sulphur reduct product capac redeploy redund surplu personnel nuova solmin restructur basi produc profit itl million itl million expect itl million itl million itl billion restructur includ loss period metallurg oper control nuova samim subsequ incorpor enirisors payment restructur metallurg oper broken itl billion compani liquid sold itl billion pertusola sud croton includ itl billion cover mainten invest oper loss itl billion year period itl billion year period itl billion residu itl billion made extraordinari charg includ allow current year sever payment personnel itl billion cost slag remov repair environment damag itl billion devalu sourc incom itl billion itl billion nuova samim metallurg activ includ itl billion extraordinari charg period itl billion voluntari redund itl billion environment action itl billion period oper loss itl billion invest itl billion itl billion cover gener financi extraordinari cost enirisors hold compani total itl billion attribut extraordinari charg sever payment personnel itl billion gener cost financi charg sum restructur enirisors entail abandon larg part activ involv closur liquid subsidiari site sale subsidiari site parti restructur enirisors march base pertusola sud nuova solmin control enirisors enirisors number product site reduc enirisors control directli integr complex portovesm san gavino porto marghera plant bronz brass divis paderno dugnano pertusola sud control croton product site nuova solmin scarlino site product unit central manag constitut core restructur enirisors order reach profit shrink corebusi entail relinquish marghera plant paderno dugnano plant pertusola sud plant compani sold close portovesm san gavino product site lead zinc enirisors sulphur acid product nuova solmin continu moment clear intent privatis oper diminish enirisors activ significantli illustr reduct annual turnov group itl billion itl billion expect reduct capac place corebusi continu demonstr tabl evolut product capac lead zinc copper sulphur acid employ situat sector gt tabl gt gt tabl gt restructur effort result substanti decreas enirisors loss overview fall loss tabl gt tabl gt loss itl billion caus pertusola sud produc zinc compani close sold interest buyer potenti buyer sale ahead plan turn product zinc nickel portovesm bind offer receiv potenti buyer case nuova solmin negoti take place prospect buyer forecast portovesm san gavino lead zinc nuova solmin sulphur acid good nuova solmin make profit past year expect continu profit make line prospect lead zinc product enirisors satisfactori world forecast product term price consumpt diminish stock posit come year cycl take downward trend profit itl billion expect itl billion itl billion itl billion iv order ascertain state aid includ recapitalis commiss examin flow capit italian state ultim sharehold enirisors light marker investor principl set commiss commun member state public undertak principl state aid involv financi transact undertaken privat investor oper normal market economi condit basi inform provid commiss amount invest italian state hold compani eni enirisors amount itl billion year period recent share eni held italian ministri treasuri meet sharehold ministri treasuri appoint board director eni accord italian civil law member board offici aforement ministri situat decis restructur enirisors capit inject financ proce benefit sharehold eni italian state fund eni made enirisors consid state resourc mean articl treati inject capit made eni intent financ restructur process enirisors suffer lack suffici financi return inject restructur consist essenc outright privatis liquid privatis invest profit return relat amount recapitalis expect lack suffici return claim eni act privat investor enirisors suffer heavi loss year term court judgment case itali commiss long period classifi limit time privat oper restructur liquid enirisors earlier stage order avoid ongo cumul loss enirisors activ sector mine ferrou metal coal coke lead zinc metallurgi ferrou metal inorgan chemic sector product trade commun global scale inject itl billion enirisors threaten distort competit affect intra commun trade conclud total amount recapitalis year constitut state aid mean articl treati articl eea agreement articl treati defin type state aid compat common market natur oper articl point treati applic state aid question divers group oper locat financi measur region object derog point articl treati concern aid facilit develop econom activ consider recapitalis made enirisors financ restructur project envisag final liquid enirisors commiss approach state aid restructur outlin relev commun guidelin guidelin commiss point take strict approach assess compat kind aid end transfer reason social industri problem member state reason commiss approv restructur aid compani restructur satisfi basic condit restor long term viabil compani reason time avoid unduli distort competit proport restructur cost benefit fulli implement subject monitor report requir basic requir fulfil effect aid consid keep common interest point articl treati restor viabil privatis gener rule conditio sine qua restructur plan restor long term viabil health compani question case enirisors restructur plan aim liquid compani closur sale restructur privatis shown measur result import decreas loss enirisors year plan execut ordinari busi activ loss declin itl billion itl billion expect loss itl billion attribut zinc produc pertusola sud close scrap sold buyer express interest produc zinc reason open procedur preliminari conclus commiss financi situat enirisors rectifi liquid sale compani true time open procedur restructur time progress yield benefit financi situat enirisors chang consider sens indebted decreas loss make activ left zinc produc pertusola sud privatis privatis enirisors compos portovesm nuova solmin profit make entiti enirisors manag part core busi activ engag process reduc size core busi process reduc debt sell close pertusola sud shed loss make compani shown italian author restructur stop short core busi enirisors assert time open procedur phase abandon larg part activ enirisors consist compani consid core busi process privatis compani complet futur fact sale porto marghera plant paderno dugnano plant compani pertusola sud remain core busi profit longer hold true core busi drain resourc eni restructur effort made vi vi core busi repercuss term reduc product capac reduc level employ addit italian author commun commiss commit carri privatis remain compani fact process privatis launch bind offer receiv interest buyer privat compani complet privatis enirisors liquid contrari assumpt made time procedur initi clear restructur lead continu enirisors activ circumst full privatis total liquid enirisors task owner ensur ultim viabil compani concern state assist privatis result sever direct financi link enirisors italian state subsequ compani longer enjoi constant state financ prevent undu distort competit condit set restructur aid measur offset advers effect competitor aid contrari common interest elig exempt point articl treati enirisors restructur repres consider effort reduc product capac product rang figur annual turnov itl billion itl billion clear express reduct open procedur commiss awar massiv reduct capac plan core busi enirisors held view basi inform time restructur effect activ enirisors answer open procedur italian govern point restructur involv core busi give consist reduct lead reduc zinc copper sulphur acid reduct personnel work sector remark lead zinc copper sulphur acid light commiss conclud restructur enirisors affect competit extent contrari common interest proportion aid relat restructur shown capit inject made past year cover cost relat reduc indebt enirisors liquid closur compani plant restructur compani plant note beneficiari contribut significantli financ restructur liquid plan incom deriv sale asset subsidiari purpos doubt exist time open procedur exist contribut commiss receiv full confirm italian govern incom deriv sale financ element restructur demonstr total cost restructur itl billion enirisors pai cost capit inject amount itl billion sale proce amount itl billion cost restructur met enirisors incom sale restructur purpos final privatis enirisors restructur busi area contribut cost contribut maximum beneficiari circumst aid grant consid provid enirisors oper subsidiari plant surplu cash aggress market distort activ unrel restructur process financ invest requir restructur full implement restructur plan condit impos relev commun guidelin compani fulli implement restructur plan submit accept commiss plan consist sell liquid compani own enirisors restructur core busi enirisors order privatis relev compani privatis compani final liquid enirisors italian govern undertaken carri plan entireti commiss conclud condit compli italian govern monitor report implement privatis underwai pertusola sud privatis portovesm san gavino nuova solmin monitor commiss purpos period report submit italian author progress privatis financi situat enirisors incom deriv privatis adopt decis articl state aid grant itali period favour enirisors form recapitalis amount itl billion aim restructur accord plan compat common market eea agreement virtu point articl treati point articl agreement provid italian govern compli condit laid articl decis articl itali compli commit privatis remain compani product site enirisors commenc final liquid enirisors privatis place decemb proce obtain privatis invest compani own eni defrai liquid cost enirisors articl itali cooper fulli monitor decis commiss provid commiss half yearli report includ progress outstand privatis proce deriv progress final liquid enirisors liquid cost updat financi situat enirisors report reach commiss octob report submit monthli interv articl decis address italian republ brussel april commiss karel van miert member commiss oj ecr paragraph oj oj ecr paragraph oj