§ Mr. Bowen Wells
asked the Secretary of State for Transport what proceeds were realised from the sale of shares in Associated British Ports Holdings plc.
§ Mr. David Mitchell
Gross receipts from the sale of shares totalled some £48 million, and, after deduction of the costs of the sale, net receipts totalled about £46 million. Parliamentary approval is being sought in the Summer Supplementary Estimates for the Vote for the sale of shares in Associated British Ports to be continued in 1983–84, when it will be Class VI Vote 5 with a cash limit of £300,000, to meet remnant expenses arising from the sale. Pending that approval, any necessary expenditure will be met by repayable advances from the Contingencies Fund.