HC Deb 10 January 1989 vol 144 cc529-30W
32. Mr. McAvoy

To ask the Secretary of State for Defence why no specific valuation was placed on Royal Ordnance plc intellectual property rights at the time of their sale.

45. Mr. Graham

To ask the Secretary of State for Defence why no specific valuation was placed on Royal Ordnance plc intellectual property rights at the time of their sale.

Mr. Buckley

To ask the Secretary of State for Defence why no specific valuation was placed on Royal Ordnance plc intellectual property rights at the time of their sale.

Mr. Tony Banks

To ask the Secretary of State for Defence why no specific valuation was placed on Royal Ordnance plc intellectual property rights at the time of their sale.

Mr. Sainsbury

When the shares in Royal Ordnance plc were sold to British Aerospace plc the sale was made on the basis of the price offered by the highest bidder for the whole enterprise, including the intellectual property rights. No specific valuation was necessary as the ultimate return to public funds was determined by the open market's assessment of the value of the whole business, including all of its assets and liabilities.