Written question asked by Paul Keetch (Liberal Democrat) on Wednesday, 9 February 2005, in the House of Commons. It was due for an answer on Tuesday, 22 February 2005. It was answered by Adam Ingram (Labour) on Tuesday, 22 February 2005 on behalf of the Ministry of Defence.

Ministry of Defence

Question: To ask the Secretary of State for Defence, what actions his Department is taking to maximise the return to public funds from the Department's shareholding in QinetiQ.

Answer: Mr. Keetch: To ask the Secretary of State for Defence what actions his Department is taking to maximise the return to public funds from the Department's shareholding in QinetiQ. [216879] Mr. Ingram: A key feature of the original Defence Evaluation and Research Agency Public Private Partnership was to bring in a strategic partner to improve the management of QinetiQ and help grow the business in preparation for its transfer to the private sector. Although the Ministry of Defence continues to hold a majority equity stake in QinetiQ, operational control of the company is exercised by The Carlyle Group as the Government's strategic partner. This injection of private sector resource and expertise is contributing to the growth of the company and hence to the value of the Government's shareholding.

Secondary information

Type: Written question
Reference: 216879; 431 c603W;431 c599W
Session: 2004-05
Subjects: Government shareholding Public private partnerships Shares QinetiQ
Link: View this Written question on www.publications.parliament.uk