§ Mr. Colvinasked the Secretary of State for Trade and Industry when British Shipbuilders sold Vosper Shiprepairers Ltd. to the company's management; and if there were any other bids for the company.
§ Mr. Giles ShawYes.
§ Mr. Colvinasked the Secretary of State for Trade and Industry (1) what was the price received by British Shipbuilders when it sold Vosper Shiprepairers Ltd. to the management of the company in a management buyout;
(2) if he will publish in the Official Report the conditions of sale when British Shipbuilders sold Vosper Shiprepairers Ltd.;
(3) what was his Department's estimated value of Vosper Shiprepairers at the time of the sale to the management;
(4) what financial assistance British Shipbuilders provided to the management of Vosper Shiprepairers Ltd. to buy out their company.
§ Mr. Giles ShawBritish Shipbuilders sold Vosper Shiprepairers Ltd. on the best terms available and at a cost less than the option of closure. The terms and conditions of sale are commercially confidential.
§ Mr. Colvinasked the Secretary of State for Trade and Industry what has been the involvement of British Shipbuilders in Vosper Shiprepairers Ltd. since VSL was privatised.
§ Mr. Giles ShawAll dealings between British Shipbuilders and Vosper Shiprepairers Ltd. since privatisation have been on strictly commercial terms.
§ Mr. Colvinasked the Secretary of State for Trade and Industry how much money is still owed by the management and shareholders of Vosper Shiprepairers Ltd. to British Shipbuilders.
§ Mr. Giles ShawAny loan from British Shipbuilders to Vosper Shiprepairers Ltd. was secured and on commercial terms.