Three Groups Said to Plan Bids for U.K. Green Investment Bankby
Deadline to submit final, binding offers will be Sept. 12
Sustainable Development, Macquarie said to be preparing bids
As many as three groups are expected to bid for the state-owned U.K. Green Investment Bank Plc by Monday’s deadline, a person with knowledge of the talks said late Thursday.
Sustainable Development Capital LLP is leading one group and Macquarie Group Ltd is considering a bid either alone or with other investors, according to the person, who asked not to be identified because the discussions are private.
Final, binding offers are due Sept. 12, after the deadline was extended by almost two months because some parties needed more time to assess the assets. The deal is expected to fetch more than 4 billion pounds ($5.3 billion).
Spokesmen for Sustainable Development, a London-based investment firm that’s served as a fund manager for Green Investment Bank, and Macquarie declined to comment. A spokesman for Green Investment Bank also declined to comment.
The U.K. government set up the Edinburgh-based Green Investment Bank in 2012 to spur investments in renewable energy. It initiated in March a process to privatize from 75 percent to 100 percent of the lender.