Commission Decision (EU) 2016/1092 of 15 March 2016 on State aid SA.38644 2014/C (ex 2014/NN) implemented by France in favour of FagorBrandt and Groupe Brandt (notified under document C(2016) 1549) (Text with EEA relevance)

1 The State aid resulting from the loans from the Economic and Social Development Fund (FDES) granted to FagorBrandt on 28 November 2013, in so far as the interest rate applied is below the rate calculated in this Decision on the basis of the Communication from the Commission on the revision of the method for setting the reference and discount rates (‘the 2008 Communication’), i.e. 7,03 %, unlawfully granted by France to FagorBrandt, in breach of Article 108(3) of the Treaty on the Functioning of the European Union, is incompatible with the internal market.

2 The State aid resulting from the FDES loan granted to Groupe Brandt on 24 April 2014, in so far as the interest rates applied are below the rate calculated in this Decision on the basis of the 2008 Communication, i.e. 7,03 %, unlawfully granted by France to Groupe Brandt, in breach of Article 108(3) of the Treaty on the Functioning of the European Union, is incompatible with the internal market.

In consequence of its having been found that Groupe Brandt has repaid the aid referred to in Article 1, the formal investigation procedure provided for in Article 108(2) of the Treaty on the Functioning of the European Union has become devoid of purpose.

This Decision is addressed to the French Republic.