Press Release: State aid: Commission clears new restructuring plan of Banco CEISS in view of its possible acquisition by Unicaja

The European Commission has concluded that a modification to Banco CEISS' restructuring plan, opening the door for an acquisition of the bank by Unicaja Banco, is in line with EU state aid rules. In particular, the Commission found that the integration into Unicaja Banco, a Spanish bank that has received no state aid during the crisis, will ensure that Banco CEISS becomes viable in the long term. In December 2012, the Commission had approved a restructuring plan for Banco CEISS which did not foresee an acquisition by Unicaja. The rest of the plan remains largely unchanged.

• Primary Source

ESO: Background Information: State aid: Commission approves restructuring plans of Spanish banks Liberbank, Caja3, Banco Mare Nostrum and Banco CEISS http://www.europeansources.info/record/state-aid-commission-approves-restructuring-plans-of-spanish-banks-liberbank-caja3-banco-mare-nostrum-and-banco-ceiss/

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