2013/245/EU: Commission Decision of 20 December 2011 on the State aid C 40/2009 and C 43/2008 for the restructuring of WestLB AG (notified under document C(2011) 9395) Text with EEA relevance

1 The measures which Germany implemented and is planning to implement for WestLB consisting of: a) the 2009 EUR 5 billion risk shield for the Phoenix portfolio; b) the 2010 EUR 3 billion capital injection in the context of the first asset transfer; c) the 2010 first asset transfer to Erste Abwicklungsanstalt with an aid amount of EUR 10,812 billion; d) the 2012 second transfer to Erste Abwicklungsanstalt with an aid amount of EUR [1,3-2,6] billion; e) the 2012 additional capital instrument for SPM bank of EUR 1 billion; f) the 2012 additional loss coverage of EUR [0,5-2,0] billion by Land NRW for SPM bank; and g) the provision of liquidity support by the WestLB AG shareholders in the first half of 2012 […] constitute state aid.

2 The aid referred to in paragraph 1 is compatible with the internal market in the light of the commitments set out in the Annex.

Germany shall ensure that, from the notification of this Decision, detailed quarterly reports are submitted to the Commission on the measures taken to comply with it.

The Commission Decision of 12 May 2009 in case C43/2008 is hereby repealed.

This Decision is addressed to the Federal Republic of Germany.