Sales plans for green UK bank could be abandoned

A controversial sale of the state-owned UK investment bank Green Investment Bank might be abandoned. Instead, the bank could be facing an IPO.

Photo: Fred.Olsen Windcarrier

It provoked a huge uproar in the UK when it emerged that Australian capital fund Macquarie was poised to take over British state-owned Green Investment Bank (GIB), which invests exclusively in renewable projects. But now it appears critics of the sale may soon be breathing a sigh of relief.

The planned privatization of the state-owned bank might not end up happening via sale to a capital management fund, which is accused of wanting to split up the bank and sell off its most lucrative assets, including within offshore wind.

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