Written question asked by Lord Myners (Labour), in the House of Lords. It was answered by Lord Sassoon (Conservative) on Monday, 5 December 2011.
Banking: Northern Rock
- Question
- To ask Her Majesty’s Government what arrangement was made with the private equity purchasers of Northern Rock plc to claw back further amounts in the event of a future sale of Northern Rock plc, and how this relates to partial sales or sales of an interest in an entity owning an interest in the share capital of Northern Rock plc or Virgin Money.
- Answer
-
The deal is structured so that the Government can benefit from any potential upside. The Government will receive the first £50 million to £80 million profit if the business is partially or wholly sold.
Secondary information
- Type
- Written question
- Reference
- 13677; 733 c108WA
- Session
- 2010-12
- Subjects
- Sales Northern Rock plc Virgin Money
- Link
- View this Written question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2013-11-20 04:46:05 +0000
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