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BNFL: Sale of Assets
Questions
Asked by Lord Astor of Hever
To ask Her Majesty's Government who decided not to disclose the terms on which British Nuclear Fuels Ltd agreed on 17 December 2008 to sell its one-third share in the management company of the Atomic Weapons Establishment, Aldermaston, to Jacobs Engineering.[HL767]
To ask Her Majesty's Government what considerations led to their decision not to disclose the terms on which British Nuclear Fuels Ltd agreed on 17 December 2008 to sell its one-third share in
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the management company of the Atomic Weapons Establishment, Aldermaston, to Jacobs Engineering Group of Pasadena, California. [HL768]
To ask Her Majesty's Government whether any independent professional advice was taken as to the agreement by which British Nuclear Fuels Ltd sold its one-third share in the management company of the Atomic Weapons Establishment, Aldermaston, to Jacobs Engineering Group of Pasadena, California; and, if so, by whom such advice was provided. [HL770]
The Parliamentary Under-Secretary of State, Department for Business, Enterprise and Regulatory Reform & Cabinet Office (Baroness Vadera): The decision on the form of the announcement was taken by the Board of BNFL, having consulted with the shareholder executive and the MoD.
As is common, with transactions of this nature, it was a term of the Jacobs proposal that the price and other commercially sensitive terms remained confidential. The Jacobs proposal was materially superior to the other proposal received.
The board of BNFL was advised in relation to the disposal by NM Rothschild and Freshfields.