HC Deb 06 July 1987 vol 119 cc1-2W
Mr. Forth

asked the Chancellor of the Duchy of Lancaster when he expects the Rover group to complete the sale of Istel.

Mr. Atkins

The Rover group announced on 10 June that it had concluded the sale of 75 per cent. of Istel to a consortium comprising management, employees and institutional investors for £26.25 million. The Rover group is retaining a 25 per cent. shareholding in the company.

Following the completion of the sale of Istel, and not withstanding Rover group's minority shareholding, the Government will accept no further responsibility for ensuring the obligations of the company are met.