98/234/EC: Commission Decision of 15 July 1997 concerning financial aid granted to Lloyd Triestino Società di Navigazione SpA and Italia di Navigazione SpA (Only the Italian text is authentic) (Text with EEA relevance)
Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
The financial assistance given to Lloyd Triestino and Italia di Navigazione in the form of the capital injection of ITL 60 000 million (ECU 31 million) and the transfer of assets from the liquidated shipping lines in the Finmare group, Sidermar and Viamare, amounting to ITL 66 000 million (ECU 33 million), (ITL 126 000 million, or ECU 64 million, in total) does not constitute State aid under Article 92(1) of the EC Treaty.
In reaching this Decision, the Commission takes note of the following undertakings provided by the Italian authorities: - apart from the sums as set out in Article 1, no further assistance shall be given to Lloyd or Italia for the privatisation of those two companies; the authorities shall proceed with the planned privatisation of Lloyd and Italia in a transparent manner by way of competitive tender, in accordance with the conditions in the XXIIIrd competition report as set out above, - the Italian Government further confirmed its intention to complete the sale of two companies within three months following the time-limit for submission of bids. The tender notice shall be published for the sale of the aforementioned companies at the latest by the end of December 1997. The Italian authorities shall provide the Commission with a report showing the results of the privatisation, including the sales price, within three months of the signing of the sales contract.
This Decision is addressed to the Republic of Italy. Done at Brussels, 15 July 1997. For the Commission Neil KINNOCK Member of the Commission (1) Under the Italian Constitution (Article 77), in cases of extraordinary need or emergency, the government may adopt provisional measures which have the force of law. These Decree-Laws ('DLs`) come into effect automatically following their publication in the Italian State Gazzetta Ufficiale (Official Journal) and remain in force for up to 60 days. DLS must be presented by the government to the Parliament for enactment and lose their validity if, after 60 days of their publication in the Gazzetta Ufficiale, they have not been enacted. In many instances, DLs have been replaced on expiry by successive new DLs, although some provisions may be amended, and measures can remain in force without enactment for months or even years. However, the Constitutional Court in Italy ruled in 1996 that DLs can no longer be renewed after 60 days as this undermines the principle that DLs are only justified in cases of urgency (2) DL 22/94 of 13 January 1994, published in the Gazzetta Ufficiale della Repubblica Italiana No 11 of 15 January 1994. (3) Finmare is a State-controlled holding company which directly controls 12 shipping companies operating in different sectors, including international liner (container) services (Italia and Lloyd), local and Mediterranean coastal navigation and cabotage. Finmare handles 45 % of Italy's bulk cargo, 9 % of container transport, 18 % of coastal freight and 65 % of passenger traffic through Italian ports (IRI group 1992 to 1993 yearbook). (4) OJ C 333, 29. 11. 1994, p. 6. (5) Confitarma represents 83 % of the private shipowners in Italy. (6) OJ C 239, 25. 9. 1990, p. 10. (7) IRI (Istituto per la Ricostruzione Industriale) is a public body created in 1933 to coordinate and support, through financial subholdings, economic activities considered to be of national interest (e.g. RAI, Alitalia, Stet, Fincantieri, Finmare). (8) Routes served are: Lloyd - Africa, Asia and Oceania; Italia - North and South America. There is full freedom to provide services for any operator on these routes and competition is fierce. (9) XXIIIrd competition report, points 402-403.
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