Macquarie in pole position to buy UK Green Investment Bank

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Macquarie in pole position to buy UK Green Investment Bank

Macquarie Group is in pole position for the acquisition of the entire UK Government's shareholding in the Green Investment Bank. UK government hopes sale will raise £2 billion (US$2.6 billion) as part of privatization drive.

In September, we reported two teams were competing for the acquisition:

  • A team that includes Sustainable Development Capital Ltd, Pension Protection Fund (PPF), GE, Mitsui and John Hancock. The team is being advised by HSBC and JP Morgan.
  • Macquarie group, which is being advised by Royal Bank of Canada.

A consortium comprising KKR and Temporis Capital canceled its bid.

Ministers are being advised on the sale by Bank of America Merrill Lynch, while the GIB's board is being advised by UBS.

UK GIB has committed £2.6 billion of capital to almost 70 green infrastructure projects across the UK. It is the most active investor in UK green infrastructure with leading market share and a clearly identified near-term UK pipeline of new transactions. GIB is well placed to play a leading role in a large and growing global market with compelling long term dynamics.

GIB’s existing portfolio of assets is performing strongly and is well diversified across different financial products, sectors, structures, technologies and counter-parties. GIB has a proven track record of enhancing the value of assets under its management.

The sale of GIB is part of a £20 billion privatization drive planned by the Treasury under the former chancellor George Osborne.

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