The European Commission has opened an in-depth investigation to establish whether measures granted by Greece between 2007 and 2010 in favour of United Textiles S.A., a company in financial difficulties, are in line with EU State aid rules.

In particular, the Commission is concerned that United Textiles received aid repeatedly since at least 2007, in breach of the EU rescue and restructuring guidelines. In addition, the Commission aims to investigate whether some of the measures could have transferred an undue advantage to the company’s lending banks. The opening of an in-depth investigation allows interested third parties to comment on the measures under assessment. It does not prejudge the outcome of the investigation.