Written question asked by Michael Moore (Liberal Democrat) on Thursday, 21 February 2008, in the House of Commons. It was due for an answer on Monday, 25 February 2008. It was answered by Douglas Alexander (Labour) on Friday, 29 February 2008 on behalf of the Department for International Development.

Actis

Question: To ask the Secretary of State for International Development how the Government calculated the value of the 60 per cent. stake in Actis prior to its sale in 2004; and if he will make a statement.

Answer: DFID and an Independent Committee of the CDC Board commissioned KPMG, Corporate Finance Consultants, to undertake an objective valuation of the whole business and then to advise on the appropriate value of the 60 per cent. ownership interest. The valuation methodology was comprehensive and based on standard practice.The valuation advice was reviewed and accepted by the Independent Committee and verified by DFID's independent financial adviser, Campbell Lutyens and Co Ltd.

Secondary information