The European Commission has approved a Spanish recapitalization measure of EUR 280.5 million in favor of Barna Steel SA, the holding company of Celsa Spain. The measure was approved under the State aid Temporary Framework to implement the scheme that the Commission approved in July 2020. Since the individual aid amount is above the EUR 250 million thresholds laid down in the Temporary Framework, the measure had to be notified separately for individual assessment, in line with the relevant provisions of the abovementioned State aid decision and of the Temporary Framework. The support will consist in a recapitalization measure in the form of a participating loan of EUR 280.5 million.The Commission found that the Spanish measure is in line with the conditions of the Temporary Framework. In particular1. The aid is proportionate and limited to the amount necessary to ensure the viability of the beneficiary and to restore its capital position2. Safeguards are in place to ensure that the beneficiary does not unduly benefit from the recapitalization aid by the State to the detriment of fair competition in the Single Market3. The public support will be granted no later than 30 June 2022.The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the individual aid measure under EU State aid rules.Barna Steel SA is part of privately owned business based in Spain Celsa Group that recycles ferrous waste and produces technology long steel products.
The European Commission has approved a Spanish recapitalization measure of EUR 280.5 million in favor of Barna Steel SA, the holding company of Celsa Spain. The measure was approved under the State aid Temporary Framework to implement the scheme that the Commission approved in July 2020. Since the individual aid amount is above the EUR 250 million thresholds laid down in the Temporary Framework, the measure had to be notified separately for individual assessment, in line with the relevant provisions of the abovementioned State aid decision and of the Temporary Framework. The support will consist in a recapitalization measure in the form of a participating loan of EUR 280.5 million.The Commission found that the Spanish measure is in line with the conditions of the Temporary Framework. In particular1. The aid is proportionate and limited to the amount necessary to ensure the viability of the beneficiary and to restore its capital position2. Safeguards are in place to ensure that the beneficiary does not unduly benefit from the recapitalization aid by the State to the detriment of fair competition in the Single Market3. The public support will be granted no later than 30 June 2022.The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the individual aid measure under EU State aid rules.Barna Steel SA is part of privately owned business based in Spain Celsa Group that recycles ferrous waste and produces technology long steel products.
