§ Mr. David MartinTo ask the Secretary of State for Trade and Industry what responses he has received to the invitation to tender for the short-term business of the ECGD announced on 5 March.
§ Mr. SainsburyThe Government yesterday received responses to the invitation to tender from three companies previously shortlisted to tender for the short-term business of ECGD. The companies are: Assicurazioni Generali, NCM and Trade Indemnity.
There will now be a period of evaluation by the Government and their advisors, with a view to proceeding as quickly as practicable with the sale of the short-term business, subject to the successful passage of the Export and Investment Guarantees Bill through Parliament. Commitment to, and understanding of, the business as well as the financial robustness of the proposed purchaser and the price offered will be among the factors to be taken into account. My right hon. Friend the Secretary of State reserves the right to reject any, or all, of the responses and normal competition legislation and procedures will apply to the sale.