§ Mr. Stan Thorne
asked the Secretary of State for Industry whether he is satisfied that the sale price of £9 million for Prestcold Holdings agreed by BL Ltd. properly represents the valuation of Prestcold; and if he will make a statement.
§ Mr. Michael Marshall
Disposals, and the terms of disposals, are a matter for the commercial judgment of the BL board, though my right hon. Friend's approval was required—and given—under the NEB guidelines for the disposal of Prestcold. As I pointed out in reply to the hon. Member on Thursday 12 February—[Vol. 998, c.403]—the purchase price of Prestcold was arrived at on the basis of independent advice to BL from its merchant bankers.