HC Deb 28 March 1985 vol 76 cc311-2W
Mr. Bowen Wells

asked the Secretary of State for Trade and Industry if he will make a statement about the Government's interests in Kearney and Trecker Marwin Ltd.

Mr. Norman Lamont

The Government have disposed of their interest in Kearney and Trecker Marwin Ltd. to Vickers plc who are now the sole shareholder. Those interests consisted of 900,000 non-voting preference shares and an unsecured loan to KTM of £1 million, both arising from a refinancing agreement made in 1976 under S8 of the Industry Act 1972. The shares were transferred for a nominal sum and the loan for £250,000 in each case representing a considered view of the commercial value.