EnergyWatch

Macquarie said planning split, not strip, for UK green bank

If Australia's Macquarie Bank ends up the winning buyer of UK Green Investment Bank, the entity will likely be split into two. The potential sale has sparked strong opposition for fears the green-focused bank will be stripped of assets.

Photo: Fred.Olsen Windcarrier

UK Green Investment Bank Plc, the state lender put up for sale by the government, will be dramatically restructured if it is sold to Macquarie Group Ltd., according to two people familiar with the matter.

Australian bank Macquarie, seen as one of the most likely buyers, would divide the Green Investment Bank, or GIB, into at least two units, according to the people, who asked not to be identified because discussions are confidential. One or more would manage existing loans while another would work on deals yet to reach financial close, the people said. The bank may also dispose of some assets.

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