Press Release: State aid: Commission opens investigation into possible Romanian aid to Mittal Steel Roman

The European Commission has opened a formal investigation under EC Treaty state aid rules into possible aid of up to €26 million granted to Mittal Steel Roman, formerly Petrotub. In particular, the investigation will look at the fact that several public authorities agreed to waive and reschedule part of their outstanding debts in the context of the privatisation of the company in 2003. The Commission needs to verify whether these waivers and rescheduling fulfil the so-called market economy operator test, i.e. whether the privatisation was economically more advantageous for the state authorities than the liquidation of the company. The opening of a formal investigation gives interested parties an opportunity to comment on the measures under assessment. It does not prejudge the outcome of the procedure.