§ Mr. David EvansTo ask the Secretary of State for the Environment when he will offer the PSA Building Management businesses for sale.
§ Mr. RedwoodI am pleased to announce that I am today offering the five PSA Building Management businesses for sale by competitive tender. This follows the sale of PSA Projects last month, and marks the start of the final stage in the privatisation of PSA Services.
The sale will be advertised in the United Kingdom and other EC countries from tomorrow. Copies of the sale memoranda will be available from my advisers, Coopers and Lybrand. These will be sent, on request, to all bona fide prospective purchasers.
I would prefer to sell each of the five BM businesses to a different purchaser. However prospective purchasers will be permitted to bid for more than one business.
Preliminary bids need to be submitted by 9 March. Shortlisted bidders will then be provided with more detailed information and invited to make final offers.