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Parliamentary debates and questions

S5W-16374: Jackie Baillie (Dumbarton)

Scottish Labour

Date lodged: 3 May 2018

To ask the Scottish Government what due diligence was undertaken regarding its equity stake in Burntisland Fabrications, and who carried it out.

Answered by: Keith Brown 18 May 2018

As I disclosed to the Scottish Parliament on 18 April 2018, the Scottish Government has expanded the loan facility made available to BiFab to enable completion of the BOWL contract and convert that loan to a minority equity stake in the new company.

The extent of that shareholding will be determined by the extent to which the loan facility is utilised in completing the BOWL contract. As previously stated, the shareholding will not exceed 38%.

In addition we will make available a commercial loan to support DF Barnes during this transition.

The Scottish Government sought independent legal and financial advice throughout this process, the details of which are commercially confidential.