The Serious Fraud Office and Ministry of Defence police are currently investigating the sale of HMS Coventry and HMS London.
The ships were sold in 2003 for a combined price of £116 million, and required major regeneration and modernisation work as they had been out of service for some time.
As Romania was the sole identified potential purchaser, the only alternative to sale would have been to sell these ships for dismantling. Accordingly, they were valued by the MOD Disposal Services Agency at the scrap value of £100,000 each, based on the prevalent market conditions for scrap vessels at the time.
HMS London was in service for approximately 14 years, HMS Coventry for approximately 13 years.