State aid: In-depth investigation BayernLB; Aid to WestLB, Fortis, Allied Irish Bank approved
( May 12, 2009, 09:30 GMT | Official Statement) -- MLex Summary: The European Commission has opened an in-depth probe into state support measures for German Landesbank BayernLB and its Austrian subsidiary Hypo Gropu Alpe Adria. It has also approved five billion euro risk shield for WestLB, on the condition the bank refocuses on less risky activities and reduces its size by half. In a third banking state aid decision, the commission has approved additional measures from Belgium and Luxembourg for Fortis bank. And a further clearance has been granted for an emergency 3.5 billion euro recapitalisation that the Irish authorities intend to grant to Allied Irish Bank.To read more, click on the links below....
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