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31 July 2015
Deals | Brussels | Competition
On 28 July 2015, the European Commission approved the measures put forward by the French state to rescue a chlorochemicals and PVC producer, Kem One. Such measures, in a total amount of 125 million euros, can be broken down as follows:
This decision concludes an in-depth investigation procedure opened in October 2014, the Commission having concerns about the compatibility of the public support measures considered with the requirements of the rules on State aid to firms in difficulty. In particular, the Commission wished to confirm the realistic nature of certain aspects of the package as regards restoring the long-term viability of the company, whether the company was making an adequate contribution (own contribution) to the cost of restructuring, and whether the compensatory measures are proportionate and adequate.
During its in-depth 10-month investigation, the Commission found the aid to be compatible with the EU’s State aid rules. The Commission considered that the restructuring plan proposed for Kem One would help the company overcome its difficulties and become viable once again in the long term, without requiring additional public support and without unduly distorting competition within the common market.
Kem One was represented by partner Stéphane Hautbourg and counsel Sophie Quesson.
