commiss decis septemb measur relat bioscop theme park implement franc quot smvp mise en valeur du patrimoin culturel quot notifi document number french text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof call interest parti submit comment pursuant provis regard comment procedur letter march regist receiv march complaint commiss state aid bioscop theme park hereinaft bioscop alsac franc complaint refer écomusé alsac subject separ commiss decis date januari concern decis commiss ask franc provid inform measur question letter date march juli decemb juli octob decemb franc provid inform letter date juli regist receiv juli novemb regist receiv dai june regist commiss dai june regist receiv dai juli regist receiv juli octob regist receiv octob februari regist receiv februari letter octob commiss inform franc decid initi procedur laid articl ec treati respect measur commiss decis initi procedur publish offici journal european union call interest parti submit comment measur question letter januari regist receiv dai franc comment commiss letter februari regist receiv dai german feder theme park leisur compani verband deutscher freizeitpark und freizeitunternehmen hereinaft vdfu commiss comment aid question letter februari regist receiv februari compani quot smvp valoris anim du patrimoin culturel quot hereinaft smvp commiss comment aid letter date februari commiss franc copi comment made vdfu smvp letter march regist receiv dai franc commiss observ comment made vdfu smvp letter august regist receiv august franc provid inform measur ii descript bioscop theme park project bioscop theme park project launch region alsac aim construct scientif educ fun theme park focus health life environ alsatian region author idea park visitor learn enjoi distanc tradit approach convent scientif technic museum quot palai de la découvert quot quot cité de scienc quot pari consid attract fulli meet origin object visitor bioscop place relax enjoy time enabl learn pace addit region author point bioscop aim increas number tourist attract alsac incompat object mention select beneficiari order januari region council alsac department council haut rhin ba rhin set mix consortium symbio symbio view implement procedur construct bioscop region author chose oper bioscop accord legal principl public servic deleg state financ acquisit land invest cost deleg construct oper park concessionair year concessionair pai state compens form charg levi turnov end concess properti return state order select concessionair bioscop symbio publish invit tender privat oper offici journal european commun septemb lengthi select procedur aim find oper experi construct oper park satisfactorili symbio opt parc astérix part grévin compagni group confirm march sign public servic deleg contract quot design construct manag bioscop theme park quot symbio hand smvp subsidiari parc astérix amend contract sign juli contract amend refer quot concess quot project result competit tender procedur particip state concess envisag small park initi invest eur million initi target visitor year eventu rise arrang particip state laid concess point set state make smvp tranch year land hectar land remain properti state return free charg end concess build work concess acquir fit built set smvp concess properti link oper park return free charg state end concess fulli written state pai allow remain account return smvp design bioscop theme park state control construct oper year park built smvp repres invest initi tranch eur million state investor tranch particip eur million symbio subsequ invest park renov financi respons smvp plan approv state check consist park educ concept smvp pai annual charg state repres annual gross turnov earn activ carri geograph bound concess calendar year full oper year charg charg levi state subcontract activ iii reason initi procedur correspond preced initi formal investig procedur franc point view public author intervent case compens oblig link task gener econom interest entrust concessionair respons oper bioscop initi formal investig procedur commiss express doubt french state assist bioscop justif franc time firstli commiss felt doubt franc reason beneficiari compani entrust task gener econom import doubt franc defin task commiss doubt franc provid suffici justif absenc overcompens extra cost task commiss felt state support constitut aid evid provid show beneficiari compani receiv state payment market price oper theme park thirdli commiss assess compat potenti aid light provis ec treati conclud aim potenti aid consid light provis region aid articl ec treati promot cultur absenc justif franc respect commiss doubt condit potenti aid authoris set provis met iv comment franc initi formal investig procedur natur state assist bioscop compens oblig provid servic gener econom interest comment initi formal investig procedur franc restat posit state assist bioscop project constitut state aid mean articl treati compens cost oblig provid servic gener econom interest back posit franc begin remind commiss idea bioscop practic descript park project drawn symbio conjunct smvp descript emphasis educ natur park attract attract found tradit theme park franc stress concept park circumst alter futur chang educ vocat breach agreement concessionair state franc point view task gener econom interest entrust bioscop compris franc consid task unambigu spelt concess link smvp state back extract concess emphasis gener social educ aim bioscop extract deal specif price charg categori visitor children accompani parent school group elderli peopl franc emphasis symbio control activ concessionair franc examin individu criteria laid european court justic altmark assess public support form compens cost task gener econom interest highlight fact held respons unawar criteria provis made state support judgment deliv sign concess franc point public servic oblig defin oper servic gener econom interest paramet calcul compens base defin laid concess grant principl natur determin competit tender procedur launch compens exce cover cost involv perform task gener econom interest studi carri independ expert rise conseil shown return smvp invest bioscop project depend calcul assumpt compar lower usual rate return theme park sector sampl profit theme park exist state aid franc take view public author assist bioscop constitut state aid mean articl treati preliminari observ franc consid bioscop exercis econom activ theme park bioscop consid altern form museum museum school hospit bioscop embodi determin serv public alsac franc consid bioscop exist affect trade member state deni bioscop project specif aim attract visitor countri close neighbour germani point theme park catchment area extend hundr kilometr leisur park area europa park rust consid competit bioscop due differ size park fundament concept franc point gener effect competit bioscop exercis commerci activ relev product market confin small number distant locat claim tourist product replac offer bioscop emphasis differ bioscop hand eurodisnei europa park leisur park mention spanish park terra mítica concept closer bioscop point practic visitor highli decid park thousand kilometr lastli franc consid public assist bioscop confer advantag smvp parent compani grévin compagni base reason exist competit tender procedur claim ensur bid accept reflect market condit detail econom analysi independ expert rise conseil show return smvp invest bioscop project compar lower usual rate return theme park sector compat potenti state aid treati franc point public author assist bioscop project consid state aid mean articl treati aid case compat common market firstli franc note aid consid compat treati virtu derog provid articl claim aid meet condit laid guidelin nation region aid hereinaft region guidelin commiss unfavour view express region guidelin individu ad hoc aid cover commiss approv scheme applic bioscop cover sector polici franc list posit effect aid region alsac recal decis set bioscop assist area deliber criticis intern prefer project set closer region capit franc claim aid satisfi criteria laid region guidelin aid intens rise conseil appar show consider lower level admiss area question franc point aid consid compat treati virtu derog provid articl franc term quot cultur quot quot heritag quot mention articl broadli interpret includ scientif cultur promot health essenti part human heritag respect franc mention rang activ propos bioscop allow visitor broaden scientif knowledg environ health gener improv comment interest parti comment made vdfu introductori remark vdfu point theme park sector made small medium size enterpris special protect distort competit enterpris type germani undertak invest state aid consider risk grévin compagni state aid distort competit harm sector lead drop peak number visitor subsidis park peak period precis park profit vdfu consid french state assist smvp constitut aid mean articl treati view concess arrang symbio earn normal rate return part invest bioscop symbio prepar accept low charg park turnov exchang invest privat oper requir larger share profit upshot smvp receiv return excess normal market return concess smvp benefit import synergi parent compani park vdfu contest franc view aid rank compens task gener econom interest consid altmark criteria met case vdfu claim definit task gener econom interest entrust bioscop precis meet court requir matter question french public author laudabl aim teach enjoy consid aim defin suffici precis manner task gener econom interest entrust bioscop requir detail descript mean implement order carri public servic task guarante alter conflict aim public servic subsequ made park vdfu point theme park financ privat fund includ attract educ natur europa park replica shakespearian theatr mir space station visitor introduct environment protect form quot dimension quot film produc collabor world wide fund natur wwf ow imprecis natur definit bioscop task gener econom interest vdfu feel imposs regard concess lai advanc object transpar manner basi calcul compens cost task view charg paid smvp establish justifi base object criteria vdfu consid select procedur bioscop concess describ practic task gener econom interest mean implement order perform task detail select procedur implement rule possibl overcompens franc justifi level compens payabl concessionair respect task gener econom interest detail take account concessionair expenditur profit vdfu properli vdfu french state aid bioscop incompat provis treati firstli vdfu consid aid compat region guidelin aid grant commiss approv scheme posit effect region demonstr vdfu area bioscop locat possess theme park german side border experi year field larg number fail theme park hagondang lorrain park show major public invest sector notic benefici structur effect region economi vdfu demonstr park provid region last boost result develop make impact project bioscop competitor vdfu logic meet condit franc argument lastli vdfu take view order aid bioscop authoris articl treati assess aid proport object promot cultur heritag proportion assess carri condit transpar object similar requir proportion assess respect compens task gener econom interest vdfu feel carri explain point seq comment made smvp smvp point fulli share franc view summaris section iv smvp aim perform oblig set concess draw commiss attent specif natur bioscop smvp subsidiari parent compani experi manag unconvent park smvp bioscop exclus public initi concept defin public author unquestion satisfi gener interest smvp claim design construct oper park envisag pure privat framework find reach rise conseil studi smvp public particip financ activ gener interest fund privat sector deem incompat commun rule state aid smvp conclud state particip exce level aid incompat commun rule vi franc observ comment interest parti franc observ relat sole comment made vdfu franc reject vdfu claim symbio earn suffici rate return invest view symbio achiev return compar risk free rate rate appli activ carri public bodi account public monei claim vdfu fail account fact bioscop return symbio year concess goodwil includ distort calcul franc disagre vdfu state aid bioscop meet condit laid court altmark restat argument set section iv emphasis fact view bioscop provid mix leisur educ activ focu exclus emphasis fact concess rule modif park respect undermin park pure educ natur part concessionair deem quot breach contract quot authoris symbio coerciv measur involv disqualifi concessionair franc point bioscop uniqu project view competit german theme park believ activ vdfu exampl park cultur activ ancillari subordin natur leisur activ germani europa park hour drive bioscop franc reject vdfu assess compat state support region guidelin view contradict argument region impact aid state succe object aid posit impact region public monei wast franc recal numer posit effect local economi ascrib bioscop question vdfu argument bioscop depriv german park peak number visitor remain profit german park close bioscop visitor lure europa park number visitor year europa park million franc highli surviv depend hypothet annual peak visitor number lastli franc point view bioscop cultur object correspond fulli public servic task vii assess exist aid measur constitut state aid mean articl treati confer state resourc select competit advantag undertak trade member state affect section commiss evalu cumul criteria make definit select doubt measur select favour singl undertak smvp state resourc state assist bioscop consist payment fund symbio bodi group number local author state resourc mobilis effect trade franc argu bioscop park specif natur substitut attract theme park franc view li visitor catchment area support state project affect flow visitor trade member state commiss recognis bioscop offer activ tradit theme park visit tradit theme park ident altern visit bioscop mean signific reduct number visitor bioscop attract park commiss differ suffici rule altogeth form substitut peopl decid spend free time necessarili choos similar activ decid swim pool zoo fact type entertain enjoi zoo swim pool likewis parent frequent decid famili visit museum children prefer fair commiss consid visit bioscop limit extent altern visit german theme park commiss believ case measur distort trade member state fulfil relev criterion advantag order determin measur confer competit advantag smvp commiss assess state intervent place undertak situat market forc free rein fact state interven financi suffici condit conclud recipi undertak advantag state support term accept privat investor market economi constitut advantag mean articl ec treati present case complic task analys natur state intervent concess legal natur lai dissimilar right oblig parti sum briefli consid econom viewpoint parti invest bioscop project albeit differ risk symbio public sector player assum commerci risk smvp assum bulk risk natur investor take risk receiv investor take risk analysi determin respect rate return invest commiss note analysi carri independ compani rise conseil find commiss franc analysi conclud smvp rate return bioscop project higher similar invest pure privat project similar risk free invest suggest degre respect investor rate return match market rate return analysi base fact invest public author expect form smvp invest principl market economi privat investor met privat investor necessarili pleasur park oper make invest similar made state smvp point highli project launch particip symbio form suggest symbio particip replac privat investor ident term absenc risk link lower rate return commiss view necessarili contradict find rise conseil studi state possess special legal instrument allow interven condit access privat oper light commiss rule exist advantag smvp court judgment altmark set cumul condit met result classif measur compens charg relat servic gener econom interest competit advantag condit quot recipi undertak public servic oblig discharg oblig defin quot open formal examin procedur commiss question condit met present case analys inform provid franc interest parti commiss feel doubt remain commiss consid bioscop gener educ object set preambl concess vagu consid clear definit public servic task definit wide rang serv basi estim cost perform task commiss consid franc argument effect concess defin public servic oblig equal unten concess articl ident bioscop pedagog educ vocat whatsoev defin public servic task identifi concess articl refer educ vocat commiss feel articl suffici specif regard except articl special rate categori visitor discuss point lastli commiss take view articl concess concern special rate categori visitor franc refer basi defin servic gener econom interest clear articl relat fraction bioscop activ invok view defin task gener econom interest scope task suffici justifi project public servic project scope public servic task articl unclear unsubsidis park tend charg special rate categori visitor common busi practic light commiss consid rule exist advantag beneficiari undertak advantag partial cover notion compens charg relat task gener econom interest conclus commiss rule exist state aid mean articl ec treati smvp section vii demonstr state aid exist case compat treati compat aid commiss note aid grant invest project locat favour area mean articl treati alsac potass basin ad hoc aid project cover aid scheme previous approv commiss invest project evalu light multisector framework region aid larg invest project case date aid grant date amend concess sign juli multisector framework applic publish framework point framework restrict scope project meet specif criteria criterion made cumul subcriteria total project cost eur million cumul aid intens region aid ceil larg compani area concern aid job creat safeguard amount eur section demonstr total cost project eur million aid intens aid ceil area concern gross grant equival aid eur million job creat aid job eur framework applic order determin aid compat criteria framework commiss firstli calcul intens aid intens compar maximum aid intens calcul formula point framework aid intens intens aid form grant amount grant express percentag elig cost aid form grant grant equival calcul express term elig cost case aid grant state complex natur grant element element posit neg deriv right oblig parti concess element account calcul grant equival aid tabl summaris element concess question posit neg impact aid grant smvp element concess impact smvp state particip initi invest posit provis land posit payment charg state neg return properti state end concess neg order calcul gross grant equival aid element quantifi algebra sum work commiss inform dispos contain rise conseil report quantifi element state particip initi invest easi calcul total eur million state pai amount instal year mean amount discount present order commiss refer discount rate recommend franc date aid grant rate calcul discount state particip initi invest eur million note grant state particip invest bioscop subsequ invest financi respons smvp provis land rent paid smvp estim eur million calcul base propos land pulversheim area bioscop eur annual rate land rent defin gener taxat director franc total charg payabl smvp symbio put eur million figur base estim turnov bioscop busi plan commiss quantifi effect return properti state difficult effect unfavour smvp tradit grant beneficiari remain owner invest full sell market case bioscop return state entireti goodwil includ end year concess compar tradit grant smvp forgo properti correspond price sold market discount initi date commiss consid sell price forgon smvp assess neg effect return properti state requir concess distinct method calcul sell price gross oper surplu multipl method free cash flow method method consist valu undertak multipl norm gross oper surplu multipl depend sector estim basi publish financi data recent transact rise conseil analysi valu multipl observ recent transact sector suffici financi data publish show multipl vari averag appli averag multipl bioscop valu eur million method consist determin norm cash flow undertak period start concess assum undertak hypothet compani produc cash flow perpetu order calcul assumpt cash flow perpetu rate made rise conseil studi financi analys recent transact assumpt perpetu level averag perpetu level gener estim similar order magnitud econom growth rate franc econom growth recent year commiss take view appli perpetu rate appli method aforement assumpt eur million undertak figur similar indic coher econom approach order favour econom approach commiss arithmet result eur million park gross grant equival aid eur million order calcul aid intens figur express percentag elig invest invest bioscop project main part initi invest need park open subsequ invest need maintain attract type invest mention concess concess set initi invest eur million share symbio svmp discount invest eur million concess set figur subsequ invest state simpli maintain park attract subsequ invest approv symbio financi respons svmp quantifi subsequ invest commiss base smvp busi plan approv symbio total discount subsequ invest eur million commiss view cautiou estim averag invest year concess bioscop oper plan park turnov compar averag sector franc turnov cautiou higher estim invest give lower aid intens commiss make cautiou estim purpos eur million subsequ invest commiss base part invest attract extens bioscop activ calcul elig cost figur eur million exclud eur million set invest mainten replac type invest mention correspond initi invest mean region guidelin point basi calcul elig cost eur million initi invest eur million subsequ invest eur million commiss subtract cost part launch attract view elig aid point region guidelin detail descript tranch expenditur provid franc activ account total cost commiss extrapol figur subsequ tranch elig cost mean region guidelin amount eur million eur million aid intens term gross grant equival intens term net grant equival calcul straight line depreci assumpt busi plan refer discount rate recommend commiss franc maximum allow aid intens formula point framework express maximum allow aid intens product factor term authoris maximum aid intens larg compani assist area concern case term competit factor point framework state quot determin structur overcapac exist sector subsector concern commiss commun level differ averag capac utilis rate manufactur industri capac utilis rate relev sector subsector quot structur overcapac deem exist previou year capac utilis rate relev sector subsector percentag point averag capac utilis rate manufactur industri differ exce structur overcapac consid commiss previou decis manufactur industri compar servic sector theme park subsector quantit criterion set recit appli absenc suffici data capac utilis point framework state commiss invest take place declin market purpos commiss compar evolut appar consumpt product question growth rate manufactur industri period averag growth rate eea manufactur industri case theme park difficult obtain figur consumpt growth commun franc bioscop locat sector high growth figur report french senat theme park activ franc increas ninefold year averag growth rate report state growth sector expect slacken commiss view figur franc case situat member state alsac fall bioscop visitor catchment area similar franc respect light commiss consid invest take place declin market grévin compagni share relev product market abovement senat report total number visitor record group million compar million disneyland pari appli tabl equival framework commiss conclud term capit labour factor function ratio project elig cost number job creat case elig cost eur million number full time equival direct job creat ratio valu eur job creat appli tabl equival framework commiss conclud fourth term region impact factor factor equal light forego consider maximum allow aid intens conclus aid intens maximum allow aid intens aid compat rule framework commiss conclud aid compat criteria region guidelin common market articl treati commiss point posit assess base state plai regard park project concess commiss natur park project chang state involv significantli alter commiss inform chang review situat light commun rule govern state aid commiss prejudg question procedur grant concess construct oper bioscop svmp compli rule principl commun law reserv proper step respect adopt decis articl measur franc implement quot smvp mise en valeur du patrimoin culturel quot condit laid public servic deleg contract grant concess quot design construct oper bioscop theme park quot hand symbio quot smvp mise en valeur du patrimoin culturel quot modifi amend date juli constitut state aid compat common market mean articl ec treati articl decis address french republ brussel septemb commiss mario monti member commiss oj oj footnot public servic deleg procedur subject rule set articl seq gener local region author code oj quot state quot hereinaft refer local region author alsac haut rhin ba rhin case altmark tran gmbh regierungspräsidium magdeburg nahverkehrsgesellschaft altmark gmbh oberbundesanwalt beim bundesverwaltungsgericht ecr part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk franc claim find simultan satisfi condit establish altmark judgment oj amend guidelin oj oj fact bioscop strictli speak remain properti state period concess effect ownership felt econom term end concess concessionair give properti compens sale parqu reunido sourc rise conseil report quot advent internet site sale tussaud sourc rise conseil report quot le echo decemb daili telegraph februari calcul base gross oper surplu envisag bioscop busi plan hypothet rent compani pai land subtract account fact buyer rent land turn benefit kind aid analysi merger ebizcuss intern comput carri gruppo banca sella analysi stockmarket flotat avenir franc carri cic secur calcul take account fact prospect buyer pai rent land sourc rise conseil studi calcul base assumpt undertak sell properti end concess full sell price count part profit subject corpor tax reduc profit sale smvp effect account net grant equival lower commiss decis august case itali aid pompei tech world spa project leisur park oj commiss decis april case germani saxoni anhalt aid invest project favour glass ag draft financ law volum iii annex tourism section vi quot le parc de loisir en franc quot senat websit http senat fr rap html abovement senat report franc belgium germani econom weight leisur park sector