§ Mr. Nellistasked the Secretary of State for Trade and Industry what was the agreed purchase price when Coventry Climax was privatised from British Leyland; on what date the sale was agreed; what arrangements were made for the payment to British Leyland of the agreed price; if those arrangements were honoured and if he will make a statement.
§ Mr. Giles Shaw[pursuant to his reply, 27 October 1986]: BL (now the Rover Group) disposed of Coventry Climax Ltd. on 9 December 1981. The financial arrangements are matters for the parties concerned. I can tell the hon. Member that BL's 1981 report and accounts show that this was one of a number of assets sold in that year. The value of the combined sales totalled £53 million.