industrial strategy

Investigation finds Australian bank Macquarie could be poised to asset strip UK Green Investment Bank

Last edited 10 January 2017 at 12:08pm
10 January, 2017
  1. Evidence uncovered of potential preparation for ‘asset stripping’ of GIB will add to concern around the deal from former ministers Greg Barker and Vince Cable and business figures such as Richard Branson.
  2. Macquarie preferred bidder despite track record of UK ‘asset stripping’ activity linked to other UK infrastructure acquisitions including M6 and Thames Water. 
  3. Green groups add voice to calls on Government for sale to Macquarie to be stopped.

An investigation has uncovered a process within the Green Investment Bank (GIB) establishing corporate structures commonly used in preparations for ‘asset-stripping’, ahead of its purchase by controversial Australian bank Macquarie from the UK Government for an estimated £2bn. 

Article tagged as: energy, green investment bank, industrial strategy, wind energy, wind farms, wind power

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