Spain in the dock over shipyard subsidies

European regulators have demanded that Madrid reimburse ?308.3 million ($366 million) in illegal aid subsidies given to IZAR, the state-backed shipbuilder. IZAR, owner of all public shipyards in Spain, was granted the bail-out sums by state holding company Sociedad Estatal de Participationes Industriales (SEPI) to the tune of ?500 million ...

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