Bidder for Green Investment Bank launches judicial review over sale

“A fund which wanted to buy the Green Investment Bank (GIB) has launched a High Court case questioning the Government’s decision to provisionally award the deal to Macquarie” writes Rhiannon Bury for The threat of a court case adds to concerns which have been growing about Macquarie’s planned takeover of the state-owned bank.The GIB was originally set up in 2012 with £3.8bn of state funding to encourage private and public sector investment into environmentally friendly projects.The bank turned its maiden profit of £9.9m in the 2015/16 financial year and it hopes to generate a 10pc return on its portfolio of projects.But Macquarie is thought to be planning to sell some of the assets once the deal is complete.

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