close
Banks

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.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul