Daily News of 2014-08-04
European Commission - MEX/14/0804 04/08/2014
Other available languages: none
EXME 14 / 04.08
04 / 08 / 14
The European Commission has found the resolution plan of the Portuguese Banco Espírito Santo S.A. (BES), including the creation of a Bridge Bank, to be in line with EU State aid rules. The measures notified by Portuguese authorities will allow the orderly resolution of the remaining bad bank and provide the bridge bank with the necessary means to maximise the value of its assets in the sale process, while limiting the distortions of competition created by the State aid granted. A press release is available online.
President Barroso attends the World War I commemoration ceremonies in Liège and Mons
European Commission President José Manuel Barroso today attends the ceremonies in Liège and Mons commemorating the outbreak of the First World War. This morning, the President attended the commemorative event marking the centenary of the German invasion in Belgium at the Inter-allied Memorial at Cointe in Liège, together with dignitaries from over 50 countries, including Belgian King Philippe, German President Gauck, French President Hollande, King Felipe VI of Spain, Austrian President Fischer, Irish President Higgins, Bulgarian President Plevneliev, Romanian President Băsescu and Maltese President Coleiro Preca. The United Kingdom is represented by the Duke and the Duchess of Cambridge William and Kate. Later today the President will participate in the commemorative ceremony at the Saint-Symphorien Military Cemetery in Mons. Photo and video coverage of the events will be available on EBS later this afternoon.
In June 2014, compared with May 2014, industrial producer prices rose by 0.1% in both the euro area (EA18) and the EU28, according to estimates from Eurostat, the statistical office of the European Union. In May prices fell by 0.1% in both zones. In June 2014, compared with June 2013, industrial producer prices decreased by 0.8% in both the euro area and the EU28.
Mergers: Commission clears acquisition of sole control over Visteon Interiors by Cerberus Group
The European Commission has cleared under the EU Merger Regulation the acquisition of sole control over the automotive interior products business of Visteon Corporation (Visteon Interiors) by Cerberus Group (Cerberus), both of USA. Visteon Interiors manufactures and supplies interiors components and modules for vehicles. Cerberus is an investment company active in real property and personal property and has no activity in the market where Visteon Interiors is active or in vertically related markets. The Commission therefore concluded that the proposed acquisition would not raise competition concerns. The operation was examined under the simplified merger review procedure. More information is available on the Commission's competition website in the public case register under the case number M.7285 .
Mergers: Commission clears acquisition of Delek Europe by TDR
The European Commission has approved under the EU Merger Regulation the acquisition of Delek Europe B.V. of the Netherlands by TDR Capital LLP (TDR) of the UK. Delek Europe offers fuel marketing services in Belgium, France, Luxembourg and the Netherlands, including Texaco's Benelux network. It also supplies fuels in bulk and lubricants to wholesalers, industrial customers and transportation companies in the Benelux region. TDR is an investment company and has no activity in the markets where Delek Europe is active. The Commission therefore concluded that the proposed acquisition would not raise competition concerns. The operation was examined under the simplified merger review procedure. More information is available on the Commission's competition website in the public case register under the case number M.7305 .