§ Mr. BercowTo ask the Chancellor of the Exchequer what percentage stake in Partnerships UK has been sold to private investors; and how much has been raised by the sale of shares to date. [10250]
§ 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. A further 4.4 per cent. was legally transferred to the Scottish Ministers on 23 April.
A total of £45 million was raised by the transaction for Partnerships UK. Of this amount £24,949,998 was raised by the sale to the private sector and Scottish Ministers. The remainder represents the Treasury's investment in Partnerships UK.