Written question asked by Russell Brown (Labour) on Monday, 2 February 1998, in the House of Commons. It was due for an answer on Tuesday, 3 February 1998. It was answered by John Battle (Labour) on Tuesday, 3 February 1998 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: Statement on the transfer of the Government's shareholding in Magnox Electric to British Nuclear Fuels has yet been effected (pursuant to his answer of 22 December 1997 to hon. Member for Halton (Mr Twigg) Official Report 303 c514-6W). - Includes fact that copy of financial undertaking which the Govt have given to BNFL in Library (Dep 3/5954).

Answer: Mr. Russell Brown: To ask the President of the Board of Trade, pursuant to his answer of 22 December 1997, to the hon. Member for Halton (Mr. Twigg), Official Report, columns 514-16, if the transfer of the Government's shareholding in Magnox Electric to British Nuclear Fuels has yet been effected. [27868] Mr. Battle: I am pleased to report that the Government's shareholding in Magnox Electric was transferred to BNFL on 30 January 1998. Magnox is now a wholly owned subsidiary of BNFL. Full integration of the combined businesses of the companies is expected to be completed early in 1999, subject to the companies meeting the requirements of the relevant regulators. I am today placing in the Library of the each House a copy of the financial undertaking which the Government have given to BNFL reflecting the arrangements presented to Parliament on 22 December.

Secondary information

Type: Written question
Reference: 27868; 305 c607-8W;305 c607W
Session: 1997-98
Subjects: British Nuclear Fuels Government shareholding Mergers Magnox Electric