Judgment_paragraph 78 · Italian Republic and SIM 2 Multimedia SpA v Commission of the European Communities (C-328/99, C-399/00)

78Thus the Commission pointed out at points 116 and 117 of the grounds of the contested decision that:— in order to prevent the effectiveness of the decision to recover the aid from being frustrated and the market from continuing to be distorted, the Commission may be compelled to require that the recovery is not restricted to the original firm but is extended to the firm which continues the activity of the original firm, using the transferred means of production, in cases where certain elements of the transfer point to economic continuity between the two firms;— the elements examined by the Commission include the purpose of the transfer (assets and liabilities, continuity of the workforce, bundled assets, etc.), the transfer price, the identity of the shareholders or owners of the acquiring firm and of the original firm, the moment at which the transfer was carried out (after the start of the investigation, the initiation of the procedure or the final decision) and, lastly, the economic logic of the transaction.

Italian Republic and SIM 2 Multimedia SpA v Commission of the European Communities (C-328/99, C-399/00)

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