Arca Capital files state aid complaint with European Commission

The company Arca Capital Bohemia has filed a complaint with the European Commission against alleged Polish state subsidies of hard coal mines. Arca says the state subsidies amount to around 27 billion crowns (around 1.0 billion euros) and it argues that such help has contributed to the woes of Czech hard coal mining company OKD. Without such aid, OKD, would have been able to export coal across the border to Polish customers. Arca was a minority shareholder in now bankrupt OKD. Management have been tasked to draw up a restructuring plan for the Czech mining company.

Author: Chris Johnstone