HC Deb 03 December 1975 vol 901 c598W
Mr. Hoyle

asked the Secretary of State for Energy, following the collapse of negotiations between R. J. Renolds Industries and Burmah Oil Company in relation to the proposed purchase of Burmah's North American subsidiary, what offers have now been made for the subsidiary; and what is its current value.

Mr. Benn

Burmah says that it expects to receive offers from other interested parties. Questions about other bidders and the value Burmah places on the assets are matters for the Company.

Mr. Hoyle

asked the Secretary of State for Energy what is the current value of Burmah's BP shares held by the Bank of England; and whether any offers have been made for the Burmah BP shares.

Mr. Benn

On the uncertain assumption that so large a holding could be sold at the current market price, the value of the holding at the close of business on 28th November was £434.1 million.

No decisions have been taken on the disposal of these shares.

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