Commission Decision (EU) 2016/2041 of 20 January 2016 on State aid SA.33926 2013/C (ex 2013/NN, 2011/CP) granted by Belgium to Duferco (notified under document C(2016) 94) (Text with EEA relevance )

The following measures, unlawfully implemented by Belgium in breach of Article 108(3) of the Treaty on the Functioning of the European Union, constitute State aid incompatible with the internal market: (a) sale of a stake in Duferco US Investment Corporation to Duferco Industrial Investment for EUR 11581700; (b) sale of a stake in Duferco Participations Holding Limited to [the company that controlled DPH at the time] for EUR 20362464; (c) purchase of a stake in Duferco Salvage Investments Holding, the beneficiary, for EUR [65-72 million]. (d) loan to [the parent company of the Duferco Group at the time] for EUR 2082723 in principle, in so far as the interest rate applied to the loan is below than 3,502 %; (e) loan to Steel Invest & Finance for EUR 10413639 in principle, in so far as the interest rate applied to the loan is below 4,302 %; (f) purchase of a stake in Duferco Long Products, the beneficiary, for EUR 100000000 million.

1 Belgium shall recover the incompatible aid granted referred to in Article 1 from the direct beneficiaries or their legal successors.

2 The amounts to be recovered shall bear interest from the date on which they were placed at the disposal of the beneficiary until the date of their recovery.

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

1 Recovery of the aid referred to in Article 1 shall be immediate and effective.

2 Belgium shall ensure that this Decision is implemented within four months following the date of its notification.

1 Within two months of notification of this Decision, Belgium shall communicate the following information to the Commission: (a) the total amount (principal and interest) to be recovered from each beneficiary; (b) a detailed description of the measures already taken and planned to comply with this Decision; (c) the documents proving that the beneficiaries have been ordered to repay the aid.

2 Belgium shall keep the Commission informed of the progress of the national measures taken to implement this Decision until the recovery of the aid referred to in Article 1 has been completed. It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detailed information concerning the amounts of aid and interest already recovered from the beneficiaries.

This Decision is addressed to the Kingdom of Belgium.