§ Mr. Craigenasked the Chancellor of the Exchequer if he will list those merchant banking and stockbroking firms used by the Government since 1979 in the sale of public assests and shares; and if he will give the latest cost to public funds, arising from services provided by these firms, of each part of the privatisation programme.
§ Mr. MooreI refer the hon. Member to the replies I gave to the hon. Member for Sedgefield (Mr. Blair) on 24 May 1985, at column 562, and to the hon. Member for Thurrock (Dr. McDonald) on 12 June 1985, at column 447. The table lists the merchant banks and stockbrokers used in subsequent Government share sales.
BRITOIL (1985)
Primary Underwriters
- Baring Brothers & Co. Ltd.
- Kleinwort, Benson Ltd.
- Lazard Brothers & Co. Ltd.
- Morgan Grenfell & Co. Ltd.
- N. M. Rothschilds & Sons Ltd.
- J. Henry Schroder Wagg & Co. Ltd.
- S. G. Warburg & Co. Ltd.
Financial Advisers
- Lazard Brothers & Co. Ltd.
Stockbrokers
- Hoare Govett Ltd.
- Cazenove & Co.
- Wood Mackenzie & Co. Ltd.
CABLE AND WIRELESS (1985)
Primary Underwriters
- County Bank Ltd.
- Kleinwort, Benson Ltd.
- Morgan Grenfell & Co. Ltd.
- J. Henry Schroder Wagg & Co. Ltd.
Financial Advisers
- J. Henry Schroder Wagg & Co. Ltd.
Stockbrokers
- Rowe and Pitman
- Cazenove & Co.
The total estimated costs to the Government (including VAT) of the categories of advisers specified in the earlier replies (primary underwriters, sub-underwriters, financial advisers, legal advisers, auditors, and stockbrokers) were as follows:
£,000 Britoil (1985) 7,990 Cable & Wireless (1985) 10,127 In addition to the United Kingdom institutions listed, Wood Gundy Inc. and Swiss Bank Corporation International Ltd. assisted the Government on the special arrangements made for overseas sales in theBritoil (1985) sale.