HC Deb 23 October 1986 vol 102 cc970-1W
Mr. Straw

asked the Secretary of State for Defence if he will place in the Library the prospectus for the sale of Royal Ordnance Factories plc.

Mr. Archie Hamilton

No. As it has been decided not to proceed with plans for a public offer of shares in Royal Ordnance plc no offer for sale document known as a prospectus will be published. It is now our intention to sell Royal Ordnance privately and to this end a detailed information memorandum has been prepared. This document is not a prospectus and it would not be appropriate to make it generally available. Recipients are obliged to enter a confidentiality agreement.

Mr. Straw

asked the Secretary of State for Defence if he will make a statement on the latest situation regarding the sale of Royal Ordnance Factories plc.

Mr. Archie Hamilton

In accordance with plans announced to the House of Commons by my right hon. Friend the Secretary of State for Defence on 24 July 1986—column 618—the tank building factory at Leeds has been sold to Vickers plc; and we are now seeking bids for Royal Ordnance plc as a whole on the basis of an information memorandum.

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