Cerberus Capital Management: Purchase of Distressed Assets
Debate between Simon Kirby and Albert Owen(7 years, 2 months ago)
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Roger Mullin
Minister, you have been talking for some considerable time. Am I being unfair in saying that the gist of your argument is that you do not consider that Cerberus has acted in any way unfairly—
Albert Owen (in the Chair)
Order. I know that the hon. Gentleman was referring to the Minister, not to me, but the Minister must respond now.
Simon Kirby
It is important that the Government attract good competition and secure a good price, but at the same time safeguard the rights of existing customers. It is not just our assessment that that happened but the conclusion of the independent National Audit Office. The Public Accounts Committee also concluded that the sale had been well executed. There is still work to be done in returning to the private sector assets that we acquired in the financial crisis. We will continue to do all we can to meet the same high standards and keep delivering the highest possible value to the British taxpayer.