L 278/32 Official Journal of the European Union 23.10.2009 (Acts adopted under the EC Treaty/Euratom Treaty whose publication is not obligatory) DECISIONS COMMISSION COMMISSION DECISION of 21 October 2008 on State aid measure C 10/08 (ex NN 7/08) implemented by Germany for the restructuring of IKB Deutsche Industriebank AG (notified under document C(2008) 6022) (Only the German text is authentic) (Text with EEA relevance) (2009/775/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Article 88(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof, Having called on interested parties to submit their comments pursuant to the provisions cited above ('), Whereas: ®) 1. PROCEDURE The case originated from information sent by Germany on 3 August 2007. After various information exchanges, Germany notified the measures by letter dated 15 January 2008, claiming that the measures should in any event qualify as compatible rescue and restructuring aid. By letter dated 27 February 2008, the Commission informed Germany that it had decided to initiate the procedure laid down in Article 88(2) of the EC Treaty in respect of the measures. The Commission decision to initiate the formal investi- gation procedure (hereinafter the ‘opening decision’) was () O] C 76, 27.3.2008, p. 5. published in the Official Journal of the European Union (3). The Commission invited interested parties to submit their comments on the aid. The Commission did not receive any observations from third parties. Germany submitted its own comments after the opening of the formal investigation procedure on 27 March 2008, and in addition to information provided on 15 and 25 January, 5 and 25 February, and 3, 6, 11, 14, 20 and 27 March, supplied further information on 3 and 25 April, 7 and 30 May, 9 and 27 June, 25 July, 4, 22 and 26 August, 2, 3, 4, 5, 16, 18, 19 and 25 September and 14 October 2008. With this information Germany provided 68 different agreements and documents which constitute the basis of the measures. A number of meetings and telephone conferences took place with the German authorities, the beneficiary and Kreditanstalt fir Wiederaufbau (hereinafter ‘Kfw). 2. DESCRIPTION 2.1. The beneficiary The beneficiary is IKB Deutsche Industriebank AG (here- inafter ‘IKB’). IKB is a medium-sized German private bank, listed on SDAX. Its headquarters are located in Diisseldorf. Its main shareholder is the state-owned bank KfW. Before the crisis KfW had a shareholding of 38 %. Stiftung Industrieforschung, which has no business activity of its own, held 12 %, while the remaining 50 % was freely traded. After the envisaged capital increase, KfW’s shareholding should increase to 91 %. () See footnote 1.