2012/397/EU: Commission Decision of 24 October 2011 on State aid SA 32600 (2011/C) — France — Restructuring aid to SeaFrance SA granted by the SNCF (notified under document C(2011) 7808) Text with EEA relevance

• Articles: 6

Article 1

The capital increase of EUR 166,3 million, the loan of EUR 99,7 million and the loan of EUR [40-70] million that the French Republic is planning to implement, through the SNCF, as restructuring aid in favour of SeaFrance constitute State aid within the meaning of Article 107(1) TFEU and are incompatible with the internal market.

For this reason, these aid schemes may not be implemented.

Article 2

The loan granted by France, through the SNCF, as rescue aid in favour of SeaFrance, referred to in the Commission decision of 18 August 2010, constitutes aid which is incompatible with the internal market.

Article 3

1.   France, through the SNCF, shall recover the aid referred to in Article 2 from the beneficiary, including the contractual interest due and not yet paid on the date of notification of the present decision.

2.   The amounts to be recovered shall bear interest from the date of notification of the present decision until they are in fact recovered.

3.   The interest shall be calculated on a compound basis in accordance with Chapter V of Regulation (EC) No 794/2004.

Article 4

1.   The recovery of the aid referred to in Article 2 shall be immediate and effective.

2.   France shall ensure that the present decision is implemented within four months following the date of its notification.

Article 5

1.   During the two months following the notification of the present decision, France shall communicate the following information to the Commission:

(a)

the principal amount of the aid to be recovered from the beneficiary, which comprises the amount of the loan and the interest on the loan due and not yet paid;

(b)

the amount of the interest to be recovered from the beneficiary, which must be calculated according to the principles set out in Article 3(3);

(c)

a detailed description of the measures already taken and planned to comply with the present decision; and

(d)

the documents showing that the beneficiary has been ordered to reimburse the aid.

2.   France shall keep the Commission informed of the progress in the national measures taken to implement the present decision until full recovery of the aid referred to in Article 2. It shall forward immediately, at the Commission’s request, any information on the measures already taken and planned to comply with the present decision. It shall also provide detailed information on the amounts of aid and the interest already recovered from the beneficiary.

Article 6

This decision is addressed to the French Republic.