Ports Privatisation (Hansard, 2 March 1992)

§ Mr. Bell
To ask the Secretary of State for Transport what timetable has been established for the privatisation of the port of Tilbury in accordance with the Ports Act 1991; what criteria he has laid down for management-employee buy-outs; how many bidders have submitted bids; when he expects to receive any recommendation as to the proposed successful bidder; when he proposes to announce his decision; and if he will make a statement.

§ Mr. McLoughlin
Final bids for the port of Tilbury were to be submitted by 28 February. Once they have assessed the bids, the Port of London authority board will make its recommendation to my right hon. and learned Friend the Secretary of State, who will announce his decision as soon as he is able to do so. The objectives of sale for the port of Tilbury include the following criterion in respect of management and employee share-ownershipIn considering competing bids, the PLA will have regard to … the desirability of encouraging the disposal of the whole or a substantial part of the equity share capital of the company to managers or other persons employed by the company; or to another company the whole or a substantial part of whose equity share capital is owned by managers or other persons so employed.
The number of bidders for the port is a matter of commercial confidentiality.

§ Mr. Bell
To ask the Secretary of State for Transport what submissions he has received from the port of Dover for the privatisation of the port in accordance with the provisions of the Ports Act 1991; and if he will make a statement.

§ Mr. McLoughlin
My right hon. and learned Friend has received no proposals for privatisation from that port.

§ Mr. Bell
To ask the Secretary of State for Transport what timetable has been established for the privatisation of the port of Medway in accordance with the Ports Act 1991; what criteria he has laid down for management-employee buy-outs; how many bidders have submitted bids; when he expects to receive any recommendation as to the proposed successful bidder; when he proposes to announce his decision; and if he will make a statement.

§ Mr. McLoughlin
Final bids for the Medway ports authority's undertakings were submitted on 24 February. Once it has assessed the bids, the Medway ports authority board will make its recommendation to my right hon. and learned Friend the Secretary of State, who will announce his decision as soon as he is able to do so. The objectives of sale for the Medway ports authority include the following criterion in respect of management and employee share-ownershipthe Authority will have particular regard to the desirability of encouraging the disposal of the whole or a substantial part of the Company to managers and employees.
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The number of bidders for the port is a matter of commercial confidentiality.

§ Mr. Bell
To ask the Secretary of State for Transport what timetable has been established for the privatisation of the Port of Forth in accordance with the Ports Act 1991; what criteria he has laid down for management-employee buy-outs; how many bidders have submitted bids; when he expects to receive any recommendation as to the proposed successful bidder; when he proposes to announce his decision; and if he will make a statement.

§ Mr. McLoughlin
My right hon. and learned Friend has agreed in principle to the privatisation of the Forth ports authority's undertaking by means of a flotation. The date of the flotation has not yet been announced. In considering the authority's detailed proposals my right hon. and learned Friend has had particular regard to the desirability of encouraging the disposal of the whole or a substantial part of the equity share capital to managers and employees.

§ Mr. Bell
To ask the Secretary of State for Transport what submissions he has received from the port of Ipswich for the privatisation of the port in accordance with the provisions of the Ports Act 1991; and if he will make a statement.

§ Mr. McLoughlin
My right hon. and learned Friend has received no proposals for privatisation from that port.

§ Mr. Bell
To ask the Secretary of State for Transport what timetable has been established for the privatisation of the port of Clyde in accordance with the Ports Act 1991; what criteria he has laid down for management-employee buy-outs; how many bidders have submitted bids; when he expects to receive any recommendation as to the proposed successful bidders; when he proposes to announce his decision; and if he will make a statement.

§ Mr. McLoughlin
Final bids for the Clyde port authority's undertaking were submitted on 14 February. Once it has assessed the bids, the Clyde port authority board will make its recommendation to my right hon. and learned Friend the Secretary of State, who will announce his decision as soon as he is able to do so. The objectives of sale for the Clyde port authority include the following criterion in respect of management and employee share-ownershipthe Authority will have particular regard to the desirability of encouraging the disposal of the whole or a substantial part of the equity (and voting rights) in the successor company to managers or other employees of the successor company (or to a company in which such managers or other employees have a substantial interest).
The number of bidders for the port is a matter of commercial confidentiality.

§ Mr. Bell
To ask the Secretary of State for Transport what submissions he has received from the port of Tyne for the privatisation of the port in accordance with the provisions of the Ports Act 1991; and if he will make a statement.

§ Mr. McLoughlin
My right hon. and learned Friend has received no proposals for privatisation from that port.