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Court Line

Volume 893: debated on Wednesday 11 June 1975

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asked the Secretary of State for Industry why the purchase price of £16 million paid by the Government for the Court Line companies was £1·2 million more than their net asset value.

Net asset value was only one of the factors considered in determining the purchase price. Account was also taken of the past trading record and future prospects of the companies and the immediate risk to 9,000 jobs, all in assisted areas.