The European Commission said on Wednesday it had accepted proposals from Greek authorities on how to recover illegal state aid offered to shipbuilder Hellenic Shipyards.
The European Union regulator in 2008 asked Greece to recover state aid amounting to 539 million euros ($702 million) given to the shipbuilder, which is partly owned by Germany's ThyssenKrupp.
The EU's executive said in a statement the commitments offered by Greece to recover the aid will address competition concerns in Greece's market for civil shipbuilding and ship repair.
The European Union regulator in 2008 asked Greece to recover state aid amounting to 539 million euros ($702 million) given to the shipbuilder, which is partly owned by Germany's ThyssenKrupp.
The EU's executive said in a statement the commitments offered by Greece to recover the aid will address competition concerns in Greece's market for civil shipbuilding and ship repair.