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SBD Global/August 9, 2012/Facilities

EU Regulators Widen Aid Probe Into German F1 Grand Prix Track

European Union competition regulators "stepped up" their investigation into state aid granted to the Nurburgring track in Germany, according to Foo Yun Chee of  REUTERS. The racetrack hosts the German F1 Grand Prix every other year. The European Commission said that the extended probe "would examine several additional financial measures provided in May to help avoid an immediate insolvency." The measures included "rescheduling interest payments on previously awarded loans and, possibly, an additional shareholder's loan to keep the racetrack and its operator in business for six months during which a restructuring plan would be drawn up." Rhineland-Palatinate is facing pressure to push the track to pay after "pouring millions of euros into a racing-themed amusement park there" (REUTERS, 8/8).
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