Home Stock & SharesBanks Macquarie on the verge of deal to acquire UK’s Green Investment Bank

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

by Jonathan Adams

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.

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