79In particular, it is clear from case-law that, in order to assess whether the same measure would have been adopted in normal market conditions by a private investor in a situation as close as possible to that of the State, only the benefits and obligations linked to the situation of the State as shareholder — to the exclusion of those linked to its situation as a public authority — are to be taken into account (see, to that effect, Case 234/84 Belgium v Commission [1986] ECR 2263, paragraph 14; Case 40/85 Belgium v Commission [1986] ECR 2321, paragraph 13; Joined Cases C-278/92 to C-280/92 Spain v Commission [1994] ECR I-4103, paragraph 22; and Case C-334/99 Germany v Commission [2003] ECR I-1139, paragraph 134).
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