Current status: Answered by Tom Arthur on 11 September 2024
To ask the Scottish Government, further to the answer to question S6W-28067 by Tom Arthur on 19 June 2024, whether it will provide details of how exactly it enabled "all parties to achieve what they required from the sale and purchase of the business", and whether or not the transaction would have proceeded without Scottish Government ownership.
The Scottish Government’s involvement in the transaction helped secure the earliest realisation of the commercial and wider economic benefits of the deal, and the selected structure was agreed by all parties.
The statement given by the then Minister for Business, Trade, Tourism and Enterprise to the Scottish Parliament on 15 December 2021 highlighted that one clause in the 2016 transaction, an indemnity from Scottish Ministers to Longs Steel (Tata Steel took over the business), is no longer valid.