Written question asked by Llew Smith (Labour) on Tuesday, 11 February 2003, in the House of Commons. It was due for an answer on Friday, 28 February 2003. It was answered by Lord Moonie (Labour) on Friday, 28 February 2003 on behalf of the Ministry of Defence.

Ministry of Defence

Question: To ask the Secretary of State for Defence, when he expects to conclude the deal with the Carlyle Group for the partial sale of QinetiQ.

Answer: Llew Smith: To ask the Secretary of State for Defence when he expects to conclude the deal with the Carlyle Group for the partial sale of QinetiQ. [98041] Dr. Moonie: As is normal in a major transaction of this type, there are a number of conditions that must be satisfied between signing and formal completion. These include: Laying before Parliament a Departmental Minute describing the contingent liabilities arising from the transaction. Receipt of EU Commission merger clearance. Legal formalities relating to property. Completion of Carlyle's financing arrangements. We anticipate that all these conditions should be satisfied within the next few weeks with formal completion taking place shortly after this.

Secondary information

Type: Written question
Reference: 98041; 400 c739W;400 c731W
Session: 2002-03
Subjects: Companies Defence equipment Mergers Public private partnerships Sales QinetiQ Carlyle Group
Link: View this Written question on www.publications.parliament.uk