12.12.2001 Official Journal of the European Communities L 327/37 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 25 July 2001 on the State aid implemented by France in the form of development assistance for the cruise vessel ‘Le Levant’, built by Alstom Leroux Naval for operation in Saint-Pierre-et-Miquelon (notified under document number C(2001) 2435) (Only the French text is authentic) (Text with EEA relevance) (2001/882/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 regard to Council Directive 90/684/EEC of 21 December 1990 on aid to shipbuilding ('), and in particular Article 4(7) thereof, Having called on interested parties to submit their comments pursuant to the provisions cited above (%), Whereas: I. PROCEDURE (1)  From an article published in Lloyds List, the Commission learned in late 1998 that the cruise vessel Le Levant, built by Alstom Leroux Naval in France at a contract price of FRF 228,55 million, had been financed by means of tax concessions available to investors financing the building of the vessel. This aid had not been notified to the Commission. In response to the Commission's enquiries, France provided information about the project by letter dated 12 May 1999. The Commission asked additional questions by letter dated 4 June 1999, to which France replied by letter dated 19 August 1999. France submitted observations by letters dated 12 January and 14 June 2000, the latter letter commenting on the () O] L 380, 31.12.1990, p. 13. () O] C 33, 5.2.2000, p. 6. observations submitted by the legal representatives of Compagnie des fles du Levant (hereinafter referred to as ‘CIL)) in the context of the procedure. The Commission asked further questions in a letter dated 26 February 2001, to which France replied by letters dated 30 April 2001 and 11 June 2001. (20 By letter SG(99)D/9733 dated 2 December 1999, the Commission informed France that it had decided to initiate the procedure laid down in Article 88(2) of the EC Treaty. (3)  The Commission decision to initiate the procedure was published in the Official Journal of the European Communi- ties ). The Commission invited interested parties to submit their comments on the aid. (4)  The comments received were forwarded by the Commis- sion to France, which was given the opportunity to react. II. DETAILED DESCRIPTION ON THE AID (5)  The aid was granted in 1996, when the cruise vessel Le Levant was acquired by a group of private investors who put it into joint ownership on the initiative of [...] (*). The vessel was then leased to CIL, which is a subsidiary of the French company Compagnie des iles du Ponant registered in Wallis and Futuna. The investors were authorised to deduct their investment from their taxable income. These tax concessions enabled CIL to operate the vessel on attractive terms. The investors have the () See footnote 2. (*) Business secret.