{
  "url": "https://openlegislation.uk/eu-decision-2009-341/article-2",
  "json_url": "https://openlegislation.uk/eu-decision-2009-341/article-2.json",
  "legislation": "eudn/2009/341",
  "legislation_title": "Commission Decision of 4 June 2008 on State aid C 9/08 (ex NN 8/08, CP 244/07) implemented by Germany for Sachsen LB (notified under document number C(2008) 2269) (Only the German text is authentic) (Text with EEA relevance) (2009/341/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2009-341",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": null,
  "text": "1. The plan for restructuring Sachsen LB, as communicated to the Commission by Germany in April 2008, shall be fully implemented.\n2. The following assets shall be sold to a third party that is independent of the Landesbank Baden-Württemberg group (LBBW group) or be liquidated:\n(a) Sachsen LB Europe plc will be sold or liquidated by […]. The LBBW group will not take over any staff from Sachsen LB Europe plc, unless it is required to do so by legal obligations, and will therefore neither propose to nor conclude with existing staff of Sachsen LB Europe plc any new working contracts. This commitment is valid for a period of two years from the date of this Decision.\n(b) The participation in East Merchant GmbH will be sold by […].\n(c) […] will be sold […].\n3. The following commitments shall be respected:\n(a) Germany commits that Sachsen LB, represented through LBBW, will not carry out actively in any of its branches in the Free State of Saxony as an independent business activity proprietary trading activities on its own account and at its own risk going beyond those of customer service in its core business activities. This behavioural commitment is valid until the end of 2011.\n(b) Germany commits that Sachsen LB, represented through LBBW, will not carry out actively in any of its branches in the Free State of Saxony as an independent business activity international real estate business going beyond that of customer service in its core business activities. This behavioural commitment is valid until the end of 2011.\n4. For the purpose of monitoring compliance with the conditions set out in paragraphs 1, 2 and 3, Germany shall provide until 2012 regular updates on progress with the implementation of the restructuring plan and the commitments set out above.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2009/341/article/2",
    "retrieved_at": "2026-11-01T15:16:31.133913+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}