Judgment of the Court (Seventh Chamber) of 7 May 2020.#BTB Holding Investments SA and Duferco Participations Holding SA v European Commission.#Appeal – State aid – Regional aid for the steel industry – Decision declaring the aid incompatible with the common market – Notion of ‘State aid’ – Advantage – Private-operator test – Manifest error – Burden of proof – Limits of judicial review.#Case C-148/19 P.