25.11.98 Official Journal of the European Communities L316/25 COMMISSION DECISION of 25 February 1998 concerning aid awarded by Germany to HIBEG and by HIBEG via Krupp GmbH to Bremer Vulkan AG, facilitating the sale of Krupp Atlas Elektronik GmbH from Krupp GmbH to Bremer Vulkan AG (notified under document number C(1998) 582) (Only the German text is authentic) (Text with EEA relevance) (98/665/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Article 93(2) thereof, Having given notice in accordance with Article 93 to interested parties to submit their comments and having regard to those comments, Whereas: By letter dated 17 December 1991 Germany notified a guarantee given by the Freie Hansestadt Bremen/Land Bremen. The Commission, by letter dated 20 January 1992, requested supplementary information from Germany. Germany’s answer of 4 March 1992 was received on 9 March 1992. On 6 May 1992 the Commission decided to open the procedure provided for in Article 93(2) of the EC Treaty. This was communicated to Germany by letter of 20 May 1992 which was published in the Official Journal of the European Communities (). On 6 April 1993 the Commission took a negative decision, Decision 93/412/EEC (%), by which it declared as incompatible with the common market aid awarded to the Hanseatische Industrie-Beteiligungen GmbH (HIBEG) and by HIBEG via Krupp GmbH (hereinafter ‘Krupp’) to Bremer Vulkan AG (hereinafter ‘BV’), facilitating the sale of Krupp Atlas Elektronik GmbH (hereinafter ‘KAE’) from Krupp to BV. By its judgment of 24 October 1996 in Joined Cases C-329/93, C-62/95 and C-63/95 (Germany and Others v. Commission (%)), the Court of Justice of the European (1) O] C 171, 7.7.1992, p. 3. () OJ L 185, 28.7.1993, p. 43. (%) [1996] ECR I-5151. Communities annulled Decision 93/412/EEC, ruling that it was insufficiently reasoned on four points, namely on the value of the new BV shares, the application of Council Directive 90/684/EEC of 21 December 1990 on aid to shipbuilding(*), as last amended by Directive 94/73/EC (°) (seventh Directive on aid to shipbuilding) distortion of competition and the effect on intra- Community trade and the alleged aid in favour of HIBEG. In light of the Court’s ruling, the Commission is obliged to take a new final Decision in order to close the procedure. II The notification concerns a guarantee given by the Freie Hansestadt Bremen/Land Bremen to support the buying of KAE by BV from Krupp. Germany described a complex plan involving various transactions which, in combination, effect the sale of KAE to BV. In order to further diversify out of shipbuilding BV bought a 74,9 % share in KAE from Krupp. The price of DEM 350 million was not paid in cash but whith newly issued shares in BV. The following transactions took place or were agreed on: — 17 October 1991: the general meeting of shareholders of BV decides on an increase in the share capital, — 21 November 1991: the Freie Hansestadt Bremen/Land Bremen gives a guarantee of DEM 126 million plus credit costs and interest to HIBEG, a public company ownded by the Land Bremen, (*) OJ L 380, 31.12.1990, p. 27. (°) OJ L 351, 31.12.1994, p. 10.