§ Mr. Pawseyasked the Secretary of State for Trade and Industry what progress has been made in the Land Rover-Leyland privatisation discussions since his statement to the House on 25 March.
§ Mr. Peter MorrisonAs foreshadowed by my right hon. Friend's statement to the House on 25 March 1986, the BL board has been giving further study to the alternative ways forward for all the businesses concerned, including the various expressions of interest in Land Rover and Freight Rover which had already been announced. Aveling Barford Ltd. was told on 27 March 1986 that the BL board did not intend to pursue its proposal, which was for Land Rover only (excluding Range Rover). Discussions between the BL board and its advisors and the other potential bidders for Land Rover—which now include J. C. Bamford—are continuing with a view to confirmed or revised proposals being made to the board by 15 April. The BL board intends to make a decision as soon as possible after that date, although it may be necessary to hold further discussions with prospective purchasers before a recommendation can be made as to whether any of the proposals should be pursued. The Government and the BL board are agreed that a speedy conclusion to the negotiations is needed so that the present damaging uncertainty can be ended.
On Leyland Bus, it is hoped that firm proposals from Aveling Barford Ltd. the Laird Group and the management buy-out group will be available for consideration by the BL board in April.
In addition, meetings have been held between Lancashire Enterprises Ltd. and the management of Leyland Trucks and Leyland Bus to enable them to examine further any possible role for Lancashire Enterprises in the future of either or both of those companies.