Proceeding contribution from Mark Hoban (Conservative) in the House of Commons on Monday, 21 November 2011. It occurred during Ministerial statement on Northern Rock.
Northern Rock
The deal we have agreed with Virgin Money involves the receipt of £747 million in cash now and further receipts in the future. I think that offers much better value for money than the remutualisation route, which would have involved the free transfer of shares to members and would have had no certainty of return to the taxpayer. It is in the long-term interests of the Northern Rock business for this deal to go ahead as it is.
Secondary information
- Type
- Proceeding contribution
- Reference
- 536 c37
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Government shareholding Sales Northern Rock plc Virgin Money
- Link
- View this Proceeding contribution on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2023-12-15 13:53:32 +0000
- URI
- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_786318
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_786318
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_786318