Question reference: S6W-10101
- Asked by: Willie Rennie, MSP for North East Fife, Scottish Liberal Democrats
- Date lodged: 29 July 2022
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Current status: Answered by Ivan McKee on 19 August 2022
Question
To ask the Scottish Government, further to the answer to question S6W-06253 by Ivan McKee on 10 February 2022, what each party required from the sale and purchase of the business that could not be achieved without the Scottish Government owning the steelworks for a short period of time.
Answer
The three parties to the sale and purchase of the Lanarkshire steelworks on 2016 – Tata Steel, Liberty House and the Scottish Government – were all aligned in agreeing a transaction that secured the earliest realisation of the commercial and wider economic benefits of the deal, and the selected structure was the best available means to deliver this. Following negotiation the particular commercial requirements of each party are captured in the transaction documentation.