Press Release: State aid: Commission approves restructuring aid for the sale of Spanish Banco CAM to Banco Sabadell

The European Commission has concluded that restructuring aid granted by Spain to Banco CAM in the context of the sale of its banking activities to Banco Sabadell was in line with EU state aid rules.

The Commission found that the restructuring plan adequately addresses the problems that led to the bail-out of the bank in July 2011. The disappearance of Banco CAM from the market as an independent entity, the sale of its banking business to Banco Sabadell and the deep restructuring foreseen should ensure long-term viability without continued state support, whilst avoiding undue distortions of competition.

• Primary Source