CHUPA CHUPS LOAN IS LEGAL SAYS BRUSSELS
May 1st, 2007
BY KEITH NUTHALL
A EURO 35 million Catalonia regional government loan to Spanish confectionary producer Chupa Chups was legal under European Union state aid laws, the European Commission has concluded. However, after an investigation into public support of the company, it concluded Euro 900,000 subsidies were illegal aid, ordering a repayment of Euro 100,000.
A EURO 35 million Catalonia regional government loan to Spanish confectionary producer Chupa Chups was legal under European Union state aid laws, the European Commission has concluded. However, after an investigation into public support of the company, it concluded Euro 900,000 subsidies were illegal aid, ordering a repayment of Euro 100,000.
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