3.5 94 Official Journal of the European Communities No L 112/45 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 12 April 1994 concerning aid to be granted by Germany to the steel company EKO Stahl AG, Eisenhiittenstadt (Only the Germany text is authentic) (94/256/ECSC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Coal and Steel Community, and in particular the first and second paragraphs of Article 95 thereof, After consulting the Consultative Committee and with the unanimous assent of the Council, Whereas : The Community steel industry is currently experiencing its most difficult period since the first half of the 1980s. This is due to the general slowdown in the economy, which has had significant effect on industrial activities in general, and on the steel industry in particular, leading to a serious imbalance between supply and demand, accom- panied by a collapse in prices. In addition, the interna- tional market generally has been weak : there is pressure from imports and there has been a trade dispute with the United States of America affecting substantial Community exports to that market. All of these factors have combined to aggravate the financial situation of almost all steel companies in the Community. II In November 1993, Company notified the Commission of a plan to restructure and partly privatize the steel company EKO Stahl AG, Eisenhiittenstadt. This company, situated in the Land of Brandenburg, in the territory of the former German Democratic Republic (hereinafter referred to as ‘the former GDR’), had been founded after the Second World War as a2 ‘Kombinat’ under the socialist economic system then prevailing in that territory. After German unification in 1990, it became a public company (Aktiengesellschaft). The only shareholder is the Treunhandanstalt (hereinafter referred to as ‘the THA’), a public entity acting as a holding company for the former State-held companies of the former GDR. The restructuring plan submitted on 4 November 1993 and revised on 12 November 1993 provides for a change of corporate form of EKO Stahl from a public company into a private limited company (Gesellschaft mit besch- rinkter Haftung) and the purchase of 60 % of the shares by the Italian Riva group. The purchaser will be under contractual obligation to take over the remaining shares on the basis of the earning capacity value in April to June 1999 on demand of the THA. The decision to sell the majority of shares to Riva was taken after a general and unconditional bidding procedure which has been closed in October 1993. After an in-depth examination of the three bids received, the THA concluded that the Riva group had made the best offer. Germany submitted the comparison ofthe offers prepared by the THA and some additional information concerning the evaluation of the different proposals.