25It should be pointed out that, according to settled case-law, investment by the public authorities in the capital of undertakings, in whatever form, may constitute State aid where the conditions set out in Article 92 are fulfilled (see the judgments of 14 November 1984 in Case 323/82 Intermitís v Commission [1984] ECR 3809, and of 13 March 1985 in Joined Cases 296/82 and 318/82 Netherlands and Leeuwarder Papierwarenfabriek v Commission [1985] ECR 809).
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