A British court backed the government’s decision to sell its Green Investment Bank Plc to a consortium led by Macquarie Group Ltd., rejecting a request from a rival bidder to review decisions about the sale made by ministers.
Sustainable Development Capital LLP, or SDCL, had asked the High Court for a judicial review of the planned sale of the bank after it failed to win preferred bidder status. The government in September selected a group led by Australian bank Macquarie as the preferred bidder, but SDCL argued the government wasn’t compliant with criteria set out to guide ministers in their decision.
