State aid issues surrounding loans to Ferguson Marine: FOI release

FOI reference: FOI/18/02667
Date received: 26 September 2018  
Date responded: 17 October 2018

 

 

You asked the Scottish Government to provide all relevant documentation including emails/correspondence and any other information source that will provide a narrative to prove beyond doubt that the Government has applied for EU exemption for these transactions [loan facilities provided to Ferguson Marine] aand that the European Union has approved, unconditionally, that such transactions are not subject to state aid regulations as agreed by the relevant Treaty.

 

 

Scottish Ministers have provided two commercial loan facilities to Ferguson Marine Engineering Limited. Both loan facilities were negotiated on fully commercial terms following detailed due diligence and with the benefit of independent third-party verification. On this basis we concluded there was no state aid present in the loan facilities provided to Ferguson Marine.