§ Mr. Mackinlay
To ask the Secretary of State for Transport for how much the port of Tilbury was sold; and what was the valuation of the port of Tilbury, as advised to him or the Port of London Authority, prior to the sale.
§ Mr. Norris
The port of Tilbury was sold to International Transport Ltd, a management and employee buy-out team, at a price of £32 million. Prior to the sale the Port of London Authority, as the vendors, were advised of72W benchmark valuation ranges for the sale of the port of Tilbury of £27 million to £37 million for a trade sale and of £25 million to £34 million for a leveraged buy-out.