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Macquarie on the verge of deal to acquire UK’s Green Investment Bank

Green Investment Bank

Macquarie Group could be on the verge of unveiling the long-mooted acquisition of Britain’s Green Investment Bank for around £2.3 billion, boosting its exposure to renewable energy.

British climate minister Nick Hurd is expected to unveil the sale of the government-owned bank later today (AEST), according to several British media reports, suggesting Macquarie may announce the deal tonight or tomorrow morning.

A Macquarie spokeswoman in Sydney declined to comment.

Macquarie (MQG), the world’s biggest manager of infrastructure assets, has been speculated to be eyeing GIB for more than six months; sparking concerns in Britain the bank would cut some of its 130-odd workforce and offload less desirable assets.

Paul

The author Paul