§ Lord Cadmanasked Her Majesty's Government:
Whether they will place in the Library of the House a copy of the sale agreement of Railfreight Distribution to English, Welsh and Scottish Railways Ltd.
§ Baroness HaymanNo. The terms of the sale agreement between the British Railways Board and English, Welsh and Scottish Railways in respect of Railfreight Distribution are commercially confidential.
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§ Lord Cadmanasked Her Majesty's Government:
How much government money has been committed to English, Welsh and Scottish Railways Ltd. as part of the sale agreement to them of Railfreight Distribution.
§ Baroness HaymanThe net present value of cost of the sale to the British Railways Board is estimated at about £242 million. The biggest element comprises payments to Eurotunnel, to which BRB is in any case contractually committed.
§ Lord Cadmanasked Her Majesty's Government:
How the sale of Railfreight Distribution to English, Welsh and Scottish Railways Ltd. complies with the European Community requirements for open access for rail freight through the Channel Tunnel.
§ Baroness HaymanThe terms of the sale were approved by the European Commission prior to the sale's completion. The Commission found that the sale terms did not unduly distort competition. Since then, we have secured from the French Government and Eurotunnel commitments designed to increase international railfreight not only by Railfreight Distribution but also by potential new entrants to the market.