State-owned Companies (Bids) (Hansard, 11 February 1986)

§ Mr. Franks
asked the Chancellor of the Exchequer how many management and management-employee bids to buy state-owned companies there have been since 1979; and how many of these have been accepted by the Government.

§ Mr. Moore
There have been 13 successful and four unsuccessful management and management-employee bids for state-owned companies, details of which are listed below. The role of Government Departments in evaluating bids for companies owned by nationalised industries and other public sector bodies varies according to the particular circumstances of each sale.

Successful bids

National Freight Corporation

Britflex Resin Systems Limited (British Steel Corporation subsidiary)

Coated Electrodes Limited (British Steel Corporation subsidiary)

Brooke Marine Limited (British Shipbuilders subsidiary)

Swan Hunter Limited (British Shipbuilders subsidiary)

428W
expenditure (a) in real terms, (b) in cash terms, (c) using 1979 as a base of 100 since 1979 on (i) the National Health Service, (ii) defence, (iii) education, (iv) civil research and (v) defence research.

§ Mr. MacGregor
The available figures are summarised in the following tables:

Successful bids

Tyne Shiprepair Limited (British Shipbuilders subsidiary)

Vosper Shiprepair Limited (British Shipbuilders subsidiary)

Vosper Thornycroft Limited^* (British Shipbuilders subsidiary)

Hoverspeed Limited (50 per cent. British Rail shareholding)

Bull Motors Limited (100 per cent. British Technology Group shareholding)

QI Europe Limited (51 per cent. British Technology Group shareholding)

Inveresk Research (90 per cent. Scottish Development International Limited Agency shareholding)

Strathclyde Process Engineering Limited (92.5 per cent. Scottish Development Agency shareholding)

Unsuccessful bids

Vosper Thorneycroft Limited^* (British Shipbuilders subsidiary)

British Transport Hotels Limited (British Rail subsidiary)

Sealink Limited (British Rail subsidiary)

INSAC Products Limited (100 per cent. British Technology Group shareholding)

^* Two management groups submitted rival bids for Vosper Thorneycroft.
One was successful.

Successful bids
National Freight Corporation
Britflex Resin Systems Limited	(British Steel Corporation subsidiary)
Coated Electrodes Limited	(British Steel Corporation subsidiary)
Brooke Marine Limited	(British Shipbuilders subsidiary)
Swan Hunter Limited	(British Shipbuilders subsidiary)

Successful bids
Tyne Shiprepair Limited	(British Shipbuilders subsidiary)
Vosper Shiprepair Limited	(British Shipbuilders subsidiary)
Vosper Thornycroft Limited^*	(British Shipbuilders subsidiary)
Hoverspeed Limited	(50 per cent. British Rail shareholding)
Bull Motors Limited	(100 per cent. British Technology Group shareholding)
QI Europe Limited	(51 per cent. British Technology Group shareholding)
Inveresk Research	(90 per cent. Scottish Development International Limited Agency shareholding)
Strathclyde Process Engineering Limited	(92.5 per cent. Scottish Development Agency shareholding)

Unsuccessful bids
Vosper Thorneycroft Limited^*	(British Shipbuilders subsidiary)
British Transport Hotels Limited	(British Rail subsidiary)
Sealink Limited	(British Rail subsidiary)
INSAC Products Limited	(100 per cent. British Technology Group shareholding)