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EC Statement: State aid - Commission opens in-depth review of restructuring of Banco Português de Negócios

( October 24, 2011, 14:00 GMT | Official Statement) -- MLex Summary: The European Commission has opened an in-depth probe into Banco Português de Negócios' proposed restructuring plan, to assess whether it is compatible with EU state aid rules. The regulator needs to examine whether the entity will be viable once its integration with its future purchaser is completed, that the aid granted is limited to the minimum needed, that sufficient tools are in place to limit distortions to competition, and that the buyer does not benefit from any aid....

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