§ Mr. David EvansTo ask the Secretary of State for the Environment what progress has been made in privatising the PSA's building management businesses.
§ Mr. RedwoodA shortlist of bidders has been selected for each business from those making indicative bids. Shortlisted bidders include a Management Buyout (MBO) team for BM Scotland. In line with normal Government practice a contribution is being made to MBO teams' costs in preparing bids. Shortlisted bidders have until 1 June to make detailed practical bids. We hope to exchange contracts as soon as practicable thereafter. Staff will then have the opportunity to decide whether to transfer with their businesses into the private sector and we expect the sales to be completed about two months after exchange of contracts.