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Northern Rock

Treasury written question – answered on 29th November 2011.

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Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury)

To ask the Chancellor of the Exchequer what reasons an initial public offering was not attempted in the sale of Northern Rock.

Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury

A full range of options for returning Northern Rock plc to the private sector was evaluated by HM Treasury, UK Financial Investments Ltd and independent advisers including an Initial Public Offering. Ultimately, it was decided that the sale of Northern Rock plc would generate the best value for the taxpayer.

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