Deals
U.K. Said to Delay $5.4 Billion Green Bank Deadline for Bids
- Bidders needed more time to assess investment before Brexit
- Former climate minister says political upheval requires pause
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The British government is extending the bid deadline for the sale of the UK Green Investment Bank Plc by almost two months because potential buyers need more time to assess the 4 billion pounds ($5.4 billion) they must furnish.
The deadline will now be in early September instead of July 27, a move that was almost inevitable even before the Brexit vote because of the complexity of the deal, said one person with knowledge of the talks who asked not to be identified because the discussions are private. Another person connected to the process said bidders already have been told of the delay.