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16 February 2011

Competition Commissioner Almunia: Proposal submitted by the German federal government on the restructuring of WestLB


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Die WestLB muß als Folge der erhaltenen staatlichen Unterstützung, die sie seit Ausbruch der Finanzkrise erhalten hat, und nach einer Entscheidung der Kommission vom Mai 2009, umstrukturiert werden.


The documents submitted are:

 
- a restructuring plan prepared by the bank itself;
 
- an alternative concept of restructuring submitted by the Minister, whereby a limited part of WestLB becomes a "Verbundbank" to be owned by the savings banks and which would act as a service provider to the latter, the saleable portfolios are divested, and the non saleable ones transferred to the existing EEA 'bad bank'.
 
 


© European Commission


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