European Passenger Services Ltd.

HC Deb 02 November 1994 vol 248 c1122W

Mr. Austin Mitchell

To ask the Secretary of State for Transport what is the current capitalisation of European Passenger Services Ltd.

Mr. Watts

At 31 March 1994, the date of the latest audited accounts, the company had a capital value in terms of fixed assets of £928 million.

Mr. Austin Mitchell

To ask the Secretary of State for Transport what was the valuation of assets transferred from the British Railways Board to European Passenger Services Ltd.; and what is the value of the liabilities attributable to British Rail's former European passenger services operating divisions that remain on the British Railways Board's balance sheet.

Mr. Watts

The net value of assets transferred from the BR Board to European Passenger Services were valued at approximately £818 million. The board retains certain contingent liabilities in respect of guarantees and indemnities which it had entered into when EPS was its subsidiary.