HC Deb 20 March 1997 vol 292 c765W
Mrs. Dunwoody

To ask the Secretary of State for Transport if he will list for each of the former British Railfreight companies(a) the estimated value of the assets, (b) the sale price, (c) the amount of subsidy to be paid to the purchaser and (d) the length of the subsidy period. [20916]

Mr. Watts

The answers are as follows:

  1. (a) The price for each sale reflects the value to the purchaser of the assets and liabilities of the company.
  2. (b) The gross proceeds for each of the former BR freight companies were as follows:
    • Rail Express Systems Ltd.: £24.2 million;
    • Loadhaul Ltd., Mainline Freight Ltd. and Transrail Freight Ltd.: £225.15 million;
    • Freightliner (1995) Ltd.: £5.39 million.
  3. (c) and (d) None of those sales involves subsidy. Freightliner is receiving track access grant of up to £75 million over five years.

The sale of Railfreight Distribution has yet to be completed.