According to the news today, the UK Government is set to sell the UK's Green Investment Bank to Macquarie Group at the beginning of 2017.
The deal for the bank, which may be valued at circa £4.2 billion. should fall within the deadline, set by government when it announced the privatisation earlier this year
Spokesmen for GIB, Macquarie and the government declined to comment.
The British government is set to agree to a deal to sell UK Green Investment Bank to Macquarie Group in early January, according to a person familiar with the process.The sale of the Edinburgh-based bank is on track to be completed before the end of March, in line with the deadline the government set when it announced the privatisation this year, the person said, asking not to be identified because discussions are confidential. Negotiations with the Australian bank, which bid to buy all of GIB, are continuing, according to the person. Spokesmen for GIB and Macquarie and the government declined to comment. The investment bank could be valued at as much as £4.2 billion ($7.2 billion), including investments that the new owners will be expected to make over the next three years, Shaun Kingsbury, the bank's chief executive, has said.