No L 220/30 Official Journal of the European Communities 11. 8. 88 (Acts whose publimtiori is not obligatory) COMMISSION COMMISSION DECISION of 29 March 1988 concerning aid provided by the French Government to the Renault group, an undertaking chiefly producing motor vehicles (Only the French text is authentic) (88/454/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty estabhshmg the European Economic Community, and in\ particular the first subparagraph of Article 93 (2) thereof, Having given notice in accordance with the above Article to interested partjes to submit their comments and having regard to those comments, Whereas : At the request of the Commission, the French Government informed the Commission by letter of 2 May 1985 that it intended to provide during 1985 FF 3 000 million of new equity capital to Renault. It did not regard the transmission of this information as a notification, but as information sent in accordance with the requirements of Commission Directive 80/723/EEC of 25 June 1980 - on the transparency of financial relations between Member States and public - undertakings ('). The French Government has contested the need to notify such aids under Article 93 (3) of the Treaty in all its correspondence relating to new equity capital. () OJ No L 195, 29. 7. 1980, p. 35. f Furthermore, by letter dated 30 April 1985, the French Government informed the Commission of an FIM loan of FF 750 million to the ‘Régie Nationale des Usines Renault’, hereinafter referred to as RNUR. By a further letter dated 6 August 1985, the French Government informed the Commission that it had granted 'a second FIM loan of FF 500 million to ‘Renault Véhicules Industriels’, hereinafter referred to as RVL ' On 18 December 1985 the Commission decided to initiate the procedure under Article 93 (2) of the EEC Treaty with respect to the capital injection of FF 3 000 million granted to RNUR for 1985, the FIM loan of FF 750 million awarded in 1984 to RNUR, and the FIM loan of FF 500 million granted in 1985 to RVL In view of the severe financial difficulties of Renault in 1984 and 1985, the Commission considered that, in accordance with its position of September 1984 on pubhc authorities’ holdings in company capital, the provision of capital contained aid elements falling within Article 92 (1). Furthermore, according to Commission Decision 85/378/EEC (3), all FIM loans constitute aid measures within the meaning of Article 92 (1) of the EEC Treaty. The main reasons for initiating the procedure were the probable distortion of competition in view of the current situation in the car sector, the lack of information on the () OJ No L 216, 13. 8. 1985, p. 12.