HC Deb 23 July 1973 vol 860 cc277-8W
Mr. Michael McNair-Wilson

asked the Secretary of State for Trade and Industry how much Her Majesty's Government has funded Rolls-Royce (1971) Limited to pay the receiver following the announcement of a settlement on 26th June 1973.

Mr. Michael Heseltine

A loan of about £62.3 million has today been made to Rolls-Royce (1971) Limited to enable the company to pay the balance of the purchase price of the assets which it has bought from the receiver and manager of Rolls-Royce Ltd. The company will repay £27 million of this loan during the next three months, and arrangements for the longer-term financing of the balance will be made as part of the longer-term capital structure of the company which will be established shortly.