§ Mr. BattleTo ask the President of the Board of Trade (1) upon what criteria the successful bids for British Coal Enterprise will be chosen; and if he will make a statement; [19894]
(2) how many bids have been made for British Coal Enterprise; and by whom. [19893]
§ Mr. PageThe sale of British Coal Enterprise is a matter for British Coal. I understand, however, that the corporation has announced that two management buy-out teams have been identified as preferred bidders for the business funding and outplacement arms of BCE. Discussions will be continuing with a number of parties about the sale of the company's property portfolio.
When launching the sales process for BCE, British Coal indicated that it would be considering proposals for the company in the light of its statutory duties and the importance of ensuring continuation of effective assistance to coalfield communities.
§ Mr. HinchliffeTo ask the President of the Board of Trade (1) how many bids(a) he has received, (b) he has rejected and (c) are still under consideration for British Coal Enterprise; and if he will make a statement; [19127]
(2) what criteria the bidding party has to fulfil to be accepted as the buyer of British Coal Enterprise; and if he will make a statement; [19128]
(3) if he will make it his policy that the present level of economic regeneration in coal mining communities be maintained after the sale of British Coal Enterprise; [19129]
(4) if the sale of British Coal Enterprise will go ahead if the European Commission requires repayment of some or all of European regional development fund loans; [19130]
(5) if he will make it his policy that the money generated from the sale of British Coal Enterprise be used on new projects to regenerate coalfield areas; and if he will make a statement; [19131]
(6) if he will make it a condition of sale of British Coal Enterprise that the buyer will retain its activities in the United Kingdom coalfields; and if he will make a statement; [19132]
(7) what extra funding the coalfield areas fund will receive after the sale of British Coal Enterprise; [19133]
(8) when he will announce which bid has won the contract to buy British Coal Enterprise. [19134]
§ Mr. PageThe sale of British Coal Enterprise is a matter for British Coal. When launching the sales process, British Coal indicated that it would be considering proposals for the BCE in the light of its statutory duties and the importance of ensuring continuation of effective assistance to coalfield communities.
The Government's continuing support for economic regeneration in the coalfields is provided through regional selective assistance and the single regeneration budget, in addition to the availability of European structural funds.
425WWhere projects supported by ERDF grant or the associated grant payments are complete, the Government do not believe that the sale of BCE or of its workspace activities, will affect the status of the projects or of the grants, provided that the assets continue to be used for eligible purposes and in accordance with the terms of the relevant offers of grant.
Where projects supported by ERDF grant or the associated grant payments are not complete, or where offers of grant are still to be made in response to applications from BCE, the Government will seek assurances from any prospective purchaser of BCE, or of its work space activities, that it will complete the projects in accordance with the terms of the offer of ERDF grant, continue to use the assets for eligible purposes and comply with the other requirements, both of the Government and of European Community law, as they relate to the offer of those grants.
The corporation has announced that two management buy-out teams have been identified as preferred bidders for for the business funding and outplacement arms of BCE. Discussions will be proceeding with a number of parties about the sale of the company's property portfolio. The corporation expects that the process will be concluded at or shortly after the end of March 1996.