§ Mr. Stanleyasked the Secretary of State for Industry (1) whether he will list the shareholdings of the Department of Industry that have now been transferred to the National Enterprise Board, the date of each transfer, and the acquisition price of each shareholding paid by the National Enterprise Board to the Department of Industry;
(2) whether the consideration to be paid for shares acquired by the National Enterprise Board from the Department of Industry will be the cost of the shares to the Department or their value at the date of acquisition by the NEB; and, if the latter, what will be the basis of valuation of the shares of unquoted companies.
§ Mr. KaufmanMy Department is in consultation with the National Enterprise Board about all aspects of the arrangements necessary for a very early transfer to the NEB of the Department's shareholding in:
- British Leyland Ltd.
- Brown Boveri Kent Ltd.
- Cambridge Instrument Co. Ltd.
- Dunford and Elliott Ltd.
- Ferranti Ltd.
- Herbert Ltd.
- International Computers (Holdings) Ltd.
- Rolls-Royce (1971) Ltd.
My right hon. Friend is discussing with the NEB the basis of valuation of the shareholdings that are being transferred. In accordance with Section 5(4) of the Industry Act 1975, where appropriate my right hon. Friend will in due course lay a statement before each House setting out the consideration for which the shareholdings have been transferred.