National Bus Company

HC Deb 06 April 1987 vol 114 c42W

20. Mr. Dixon

asked the Secretary of State for Transport if he will make an interim statement on the progress of National Bus Company sales.

Mr. David Mitchell

Eighteen of the National Bus Company's bus and coach operating subsidiaries have been sold to their managements and three to outside purchasers. National Holidays and eight engineering subsidiaries have also been sold to outside purchasers.

In most cases provision has been made for employees to be given the opportunity to acquire shares in the businesses. I look forward to approving further sales shortly.

26. Mr. Cunliffe

asked the Secretary of State for Transport whether any National Bus Company subsidiaries have been sold for less than the value of their assets.

Mr. David Mitchell

From the outset of the disposal programme it has been made clear that information on sale prices will remain confidential while sales are in progress. A report will be made to the House in due course on the aggregate proceeds of sale.