Commission Decision (EU) 2025/906 of 22 November 2024 on State aid SA.48580 (2017... (32025D0906)
Commission Decision (EU) 2025/906 of 22 November 2024 on State aid SA.48580 (2017/C) implemented by Germany for WestSpiel (notified under document C(2024) 8105)
- COMMISSION DECISION (EU) 2025/906
- of 22 November 2024
- on State aid SA.48580 (2017/C) implemented by Germany for WestSpiel
- (notified under document C(2024) 8105)
- (Only the German text is authentic)
- (Text with EEA relevance)
- 1.
- PROCEDURE
- 2.
- DETAILED DESCRIPTION OF THE AID
- 2.1.
- Legal context at the time when the alleged measures were granted
- 2.2.
- The beneficiary
- 2.3.
- The alleged measures
- 2.3.1.
- Annual loss coverage
- 2.3.2.
- Alleged capital injection in 2015
- 2.4.
- Grounds for initiating the procedure
- 2.4.1.
- Alleged annual loss coverage
- 2.4.2.
- Alleged capital injection in 2015
- 3.
- COMMENTS FROM INTERESTED PARTIES
- 4.
- COMMENTS FROM GERMANY
- 4.1.
- Alleged annual loss coverage
- –
- First scenario: the liquidation of WestSpiel
- –
- Second scenario: the sale of WestSpiel
- 4.2.
- Alleged capital injection in 2015
- 4.3.
- Additional arguments
- 5.
- OBSERVATIONS FROM WESTSPIEL AND THE COMPLAINANTS
- 5.1.
- Observations from WestSpiel
- 5.1.1.
- Alleged annual loss coverage
- 5.1.2.
- Alleged capital injection in 2015
- 5.2.
- Observations from the complainants
- 5.2.1.
- Alleged annual loss coverage
- 5.2.2.
- Alleged capital injection in 2015
- 6.
- ASSESSMENT
- 6.1.
- Existence of State aid
- 6.1.1.
- Alleged annual loss coverage from 2009 to 2015
- 6.1.1.1. Automatic consumption of the capital
- 6.1.1.2. Behaviour of a comparable private investor
- –
- Assessment of the counterfactual scenarios (liquidation and sale)
- –
- Scenario 1: liquidation of WestSpiel
- –
- Liquidation value according to Germany’s description of the process
- –
- Liquidation value according to WestSpiel’s annual accounts
- –
- Scenario 2: sale of WestSpiel
- –
- Assessment of the general financial situation of WestSpiel from 2009 to 2015
- –
- Assessment of the factual scenario (annual loss coverage)
- –
- Conclusion on the advantage
- 6.1.2.
- Alleged capital injection in 2015
- 6.1.2.1. Relation between the profit skimming mechanism and the capital injection
- –
- Conclusion on the relation between the profit skimming mechanism and the capital injection
- 6.1.2.2. Assessment of the capital injection
- 6.1.2.2.1. Undertaking
- 6.1.2.2.2. State resources and imputability
- 6.1.2.2.3. Advantage
- 6.1.2.2.3.1. Assessment of Germany’s argument that the capital injection would be in line with the MEIP test
- –
- Applicability of the MEIP test
- –
- Conclusion on the applicability of the MEIP test
- –
- Application of the MEIP test
- –
- Germany’s ‘short-term view’
- –
- Assessment of the counterfactual scenarios: liquidation and sale
- –
- Conclusion on the assessment of the counterfactual scenarios
- –
- Germany’s ‘long-term view’
- –
- Conclusion on the application of the MEIP test
- 6.1.2.2.3.2. Alleged compensation for structural disadvantage
- 6.1.2.2.3.3. Alleged lack of advantage as the same economic result could have been achieved via legislative amendments
- 6.1.2.2.3.4. The alleged repayment of the book value of NRW’s silent participation would amount to an extensive repayment of the (alleged) State aid
- –
- Conclusion on the advantage
- 6.1.2.2.4. Selectivity
- 6.1.2.2.5. Distortion of competition and effect on trade
- –
- Conclusion on the capital injection
- 6.1.3.
- Conclusion on the existence of aid
- 6.2.
- Lawfulness of the aid
- 6.3.
- Compatibility
- 7.
- RECOVERY
- 8.
- INDEMNITY CLAUSE
- 9.
- CONCLUSION
- Article 1
- Article 2
- Article 3
- Article 4
- Article 5
- Article 6
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