Temporary Framework

    • France gains Commission's approval for €3bn scheme to help virus-hit companies

      France gains Commission's approval for €3bn scheme to help virus-hit companies

      The European Commission on Tuesday approved, under EU State aid rules, French plans to set up a €3 billion fund that will invest through debt, hybrid and equity instruments in companies affected by the coronavirus outbreak, EC Press service reported. The scheme was approved under the State aid Temporary Framework. It includes subordinated and participating loans and recapitalisation measures, in particular hybrid capital instruments and preferred shares without voting rights. Up to 100 companies are expected to benefit from the measure.

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