Investment Disposal
Additional documents:
Decision:
RESOLVED:
That the sale of the Council’s investment in [Exempt minute E-2-19] be approved at no less than the figures given in paragraph 18 of the submitted report and authority be delegated to the Executive Director of Resources to agree final terms for the sale.
Reason for Decision:
The sale will deliver a profit on the Council’s original investment delivering a capital receipt in support of its capital programme and limit its future financial risks.
Minutes:
The Cabinet Member for Finance introduced this Part 2 report that contained information which was exempt from Access to Information requirements by virtue of paragraph 3 – Information relating to the financial or business affairs of any particular person (including commercially sensitive information to the bidding companies). It was proposed to dispose of an investment for which an attractive offer had been received.
RESOLVED:
That the sale of the Council’s investment in [Exempt minute E-2-19] be approved at no less than the figures given in paragraph 18 of the submitted report and authority be delegated to the Executive Director of Resources to agree final terms for the sale.
Reason for Decision:
The sale will deliver a profit on the Council’s original investment delivering a capital receipt in support of its capital programme and limit its future financial risks.
The decision was unanimous.