Tag Archives: restructuring plan

Bulgarian Plan for Restructuring of Steel Plant Failed

The European Commission has found that the Bulgarian steel producer Kremikovtzi did not implement the business plan established for its restructuring, which had been agreed by the Commission in 2006 on the basis of a special steel protocol to the Europe Agreement applicable to EU/Bulgaria relations prior to the 2007 accession. The company has received about €222 million of restructuring aid.

Record State Aid Approved

The European Commission has approved a record state aid measure for the restructuring plan of Royal Bank of Scotland (RBS). The total aid received by the RBS amounts to €67- €111 billion.

The Commission says that the measures ensure a sustainable future for RBS without continued state support, foresee an appropriate participation of the bank in the costs of restructuring, and include safeguards to limit distortions of competition, notably by reducing the size of the bank.