Judgment_paragraph 30 · European Commission v Kingdom of the Netherlands and ING Groep NV (C-224/12 P)

30In this connection, it should be recalled that, in paragraph 92 of the judgment in Case C‑124/10 P Commission v EDF [2012] ECR, the Court held that in view of the objectives pursued by Article 87(1) EC and the private investor test, an economic advantage must, even where it has been granted through fiscal means, be assessed in the light of the private investor test if, on conclusion of an overall assessment, it appears that, notwithstanding the fact that the means used were instruments of State power, the Member State concerned has conferred that advantage in its capacity as shareholder of the undertaking belonging to it.