HC Deb 03 February 1998 vol 305 c607W
Mr. Russell Brown

To ask the President of the Board of Trade, pursuant to her answer of 22 December 1997, to the hon. Member for Halton (Mr. Twigg),Official Report, columns 514–16, if the transfer of the Government's shareholding in Magnox Electric to British Nuclear Fuels has yet been effected. [27868]

Mr. Battle

I am pleased to report that the Government's shareholding in Magnox Electric was transferred to BNFL on 30 January 1998. Magnox is now a wholly owned subsidiary of BNFL. Full integration of the combined businesses of the companies is expected to be completed early in 1999, subject to the companies meeting the requirements of the relevant regulators. I am today placing in the Library of the each House a copy of the financial undertaking which the Government have given to BNFL reflecting the arrangements presented to Parliament on 22 December.