UK Government To Flog Off Green Investment Bank

  • Date: 21/02/17
  • Financial Review

The UK government is poised to approve Macquarie’s controversial £2 billion ($3.2 billion) bid for Green Investment Bank Green Investment Bank, despite vocal opposition to the sale from some Scottish and Labour MPs, as first reported by Street Talk on Sunday.


According to sources familiar with the long-running privatisation, British government officials have told Macquarie the deal will be approved in the coming days.

Macquarie was chosen as the government’s preferred bidder since late last year but spent the past two months sweating on the result as it became the subject of ongoing political criticism.

GIB was set up in 2012 by the current Tory government to invest in fledgling green energy and infrastructure projects including wind farms, waste and bioenergy and offshore renewables.

Former Chancellor George Osborne decided to sell it off last year to pay down public debt.

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