2011/526/EU: Commission Decision of 29 September 2010 on State aid C 32/09 (ex NN 50/09) implemented by Germany for the restructuring of Sparkasse KölnBonn (notified under document C(2010) 6470) Text with EEA relevance

• Articles: 3

Article 1

The restructuring aid provided to Sparkasse KölnBonn by its public shareholders constitutes State aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.

The aid is compatible with the internal market, subject to implementation of the restructuring plan and fulfilment of the commitments set out in Annexes I, II and III.

Article 2

This Decision is addressed to the Federal Republic of Germany.

Schedules & Appendices

ANNEX

ANNEX

European Commission — Financial Crisis Taskforce

DG Competition

Rue Joseph II/Jozef II-straat 70

1000 Brussels

Belgium

Case C 32/09 — Sparkasse KölnBonn

COMMITMENTS TOWARDS THE EUROPEAN COMMISSION

Pursuant to Article 7(3) of Council Regulation (EC) No 659/99  ( 1 ) , as amended, Germany hereby provides the following commitments concerning Sparkasse KölnBonn in order to enable the European Commission (‘the Commission’) to find the recapitalisation of Sparkasse KölnBonn compatible with the internal market by decision under Article 107(3)(b) of the Treaty on the Functioning of the European Union.

The commitments are to take effect on the date of the decision’s adoption.

This text is to be interpreted within the general framework of EU law and with reference to Regulation (EC) No 659/99, and also taking into consideration the Decision to which the commitments are attached.

( 1 )

OJ L 83, 27.3.1999, p. 1 .