§ Mr. HinchliffeTo ask the Chancellor of the Exchequer (1) which companies successfully bid for 51 per cent. of Partnerships UK; and what are the shareholdings of each such company; [6477]
- (2) what advice was sought by the Treasury prior to the acceptance of the financial contribution for a majority stake in Partnerships UK; [6478]
- (3) if he will list the shareholders in Partnerships UK and the number of shares held by each as at (a) 30 November 2000, (b) 1 March 2001 and (c) 30 April 2001. [6476]
§ Mr. Andrew SmithHM Treasury sold a 51 per cent. shareholding in PUK plc to private sector investors, following an offer for sale issued on 26 February 2001.
Up until 31 March 2001 all shares in PUK plc were owned by The Solicitor for the Affairs of Her Majesty's Treasury. As at 31 March 2001 and 30 April 2001 the shareholders and the number of shares held by the private sector are as laid out in the table.
Shares "A" shares percentage holding Abbey National Treasury Services plc 666,666 6.67 Sun Life Assurance Society plc 666,666 6.67 The Prudential Assurance Company Limited 666,666 6.67 Barclays Industrial Investments Limited 605,558 6.06 The Royal Bank of Scotland plc 605,558 6.06 The Governor and Company of Bank of Scotland (Uberior Investment plc) 444,444 4.44 Halifax Project Investments plc 444,444 4.44 Serco Limited 333,333 3.33 The British Land Company (Boldswitch Limited) 222,222 2.22 Group 4 Falck Joint Ventures Limited 222,222 2.22 864W
Building name Location Current value (£) Car Park Birkdale Cricket Club 12,631 Norfolk House Birmingham 193,550 Units 10/12 Birmingham 10,000 Ground Floor, Pinnacle House Bootle 16,500 Centenary Court Bradford 967,419 Bristol International Airport Bristol 33,264 Waldo Road Bromley 26,500 Sherbourne House Coventry 1,306,800 Innovis House Crawley 159,640 Southern House Croydon 1,157,315 St. James House Derby 153,200 Room 305, Terminal Control Building Dover 2,140 Eastbourne TEC Eastbourne 16,822 Concorde House Gatwick 447,795 Rooms 2070 and 3048, South Terminal Departures Gatwick 5,268 Room 3049, South Terminals Departures Gatwick 4,620 Car Park Grimsby 4,500 Terminus House Harlow 66,000 2, Victoria Avenue Harrogate 165,223 Rooms 1–6 and 1–7, Hamilton House Harwich 2,750 Room 225, Terminal 2 Heathrow 14,571 Custom House, Heathrow Hounslow 24,750 Ashford International Terminal Kent 414 Cromwell House Lincoln 146,000 Queensgate House Lincoln 37,500 Imperial Court Liverpool 613,133 International House London 483,450 Victory House London 1,250,000 31 High Street, Ealing London 32,000 Customs House London 20,280 Customs House Annexe London 2,045,498
Shares "A" shares percentage holding Jarvis plc 222,222 2.22 The public sector retains 49 per cent. of Partnerships UK plc. Scottish Ministers acquired a 4.4 per cent. shareholding from HM Treasury on 23 April, so that on 30 April 2001 the public sector shareholding was 4.4 per cent. by Scottish Ministers and 44.56 per cent. by HM Treasury.
HM Treasury was advised throughout the sale process by: NM Rothschild and Sons acting as placement agent and financial adviser; Treasury Solicitors Department supported by Herbert Smith; and Price WaterhouseCoopers who provided tax and accounting advice.
Partnerships UK was advised by UBS Warburg.