Macquarie-led consortium acquires Green Investment Bank in £2.3bn deal

A consortium led by investment bank, Macquarie Group, has completed a £2.3 billion acquisition of the UK Green Investment Bank (GIB) from the UK government.

Macquarie said the GIB will be “its primary vehicle for principal investment in green projects in the UK and Europe and will consolidate its own existing UK and European principal investment business into that vehicle.”

The Australian bank said the Green Investment Bank will, under its ownership, “remain one of the leading investors in green infrastructure in the UK and Europe, with added scope to further expand internationally.”

The consortium which comprises Macquarie Group, Macquarie European Infrastructure Fund 5 and Universities Superannuation Scheme announced its agreement to buy the bank in April this year.

The GIB will continue to operate from offices n Edinburgh and London.

In March this year Macquarie sold its 26% stake in Thames Water for £1.35 bn.