HC Deb 28 February 2003 vol 400 c731W
Llew Smith

To ask the Secretary of State for Defence when he expects to conclude the deal with the Carlyle Group for the partial sale of QinetiQ. [98041]

Dr. Moonie

As is normal in a major transaction of this type, there are a number of conditions that must be satisfied between signing and formal completion. These includeLaying before Parliament a Departmental Minute describing the contingent liabilities arising from the transaction. Receipt of EU Commission merger clearance. Legal formalities relating to property. Completion of Carlyle's financing arrangements.

We anticipate that all these conditions should be satisfied within the next few weeks with formal completion taking place shortly after this.