Rover (Hansard, 16 May 2000)

§ Mr. Fabricant
To ask the Secretary of State for Trade and Industry what contingency plans the Government have in the event that the conditional offer to Phoenix by Burdale Financial, the subsidiary of First Union, of £200 million to finance the acquisition of Rover is withdrawn following due diligence; and if he will make a statement. [122244]

§ Mr. Alan Johnson
The financial backing which it has received for its bid is a commercial matter for the Phoenix Consortium. The Consortium has not sought Government finance for its proposals.

§ Mr. Fabricant
To ask the Secretary of State for Trade and Industry what plans he has to meet representatives of(a) Burdale Financial and (b) First Union to discuss the financing of the acquisition of Rover by Phoenix. [122242]

§ Mr. Alan Johnson
None. This is a commercial matter for the Phoenix Consortium.

§ Mr. Fabricant
To ask the Secretary of State for Trade and Industry what assessment he has made of the status of the offer to Phoenix by First Union of £200 million to finance the acquisition of Rover in respect of(a) due diligence and (b) an examination of the business plan of Phoenix; and if he will make a statement. [122241]

§ Mr. Alan Johnson
These are commercial matters for the Phoenix Consortium. It would not be appropriate to comment.
81W

§ Mr. Fabricant
To ask the Secretary of State for Trade and Industry what assessment he has made of the prospects for Honda's involvement in the future of the Rover plant. [122243]

§ Mr. Alan Johnson
None. This is commercial matter between Honda and the Phoenix Consortium.