(Adds Anthem, EDP, Televisa, Novo Banco, Frontline, Societe Generale, Schroders and National Aluminium; updates Virtu Financial)

April 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Virtu Financial Inc said it would buy rival KCG Holdings Inc in a $1.4 billion deal that brings together two major players in the U.S. electronic trading space.

** Germany’s Beiersdorf, the maker of Nivea skin cream, still prefers hoarding cash to fund possible acquisitions over raising its dividend, supervisory board Chairman Reinhard Poellath told shareholders.

** Sanofi is looking at potential acquisitions of devices, such as blood glucose testing kits, to boost its diabetes business, a senior executive at the French drugmaker said.

** Western Digital Corp, the U.S. partner of Toshiba Corp in a semiconductor venture, is in talks with state-backed fund Innovation Network Corp of Japan and the Development Bank of Japan and would consider a joint bid with them for the chip business, a senior official said.

** The British government said it will sell the Green Investment Bank to a consortium led by Macquarie Bank in a deal worth 2.3 billion pounds ($3 billion), which critics said failed to guarantee its future.

** Japan’s Sawai Pharmaceutical Co Ltd is buying the generic drug business of U.S. drug maker Upsher-Smith Laboratories Inc for $1.05 billion, marking the Osaka-based generic drugmaker’s first overseas acquisition.

** Chinese tech conglomerate LeEco is in talks to sell a prized property asset in the heart of Beijing it acquired in a $420 million deal last year, the latest effort by the electric car-to-smartphone behemoth to raise funds amid a severe cash crunch.

** Belgian publisher Mediahuis and partner VP Exploitatie have launched a recommended cash offer for the Netherlands’ Telegraaf Media Group, the three parties said in a statement, as they try to build a Dutch-Belgian multimedia company.

** Mubadala Capital, an arm of Abu Dhabi’s state fund Mubadala, said it had conducted a private equity transaction with European fund manager Ardian, which had committed to invest $2.5 billion in the deal.

** German glasses retailer Fielmann could pursue takeovers in the future, marketing chief Marc Fielmann, the son of company founder Guenther Fielmann, told magazine Capital in an interview.

** Shares in Italian toll-road operator Atlantia extended losses in early afternoon following a downgrade by Deutsche Bank, which highlighted the risks of a possible combination with Spanish rival Abertis.

** Spain’s Banco Popular CEO Ignacio Sanchez-Asiain said the lender’s current priority is the sell off of non-performing real estate assets as it fights to return to profits and improve its capital.

** Brazilian police conducted raids on Wednesday as part of an investigation of state-controlled Caixa Econômica Federal’s purchase of a stake in a consumer lender six years ago, the latest scandal rocking the nation’s largest mortgage lender.

** India raised 12 billion rupees ($185.7 million) from a 9.2 percent stake sale in state-run National Aluminium Co (NALCO), the government said, kicking off its asset sale programme for the new financial year.

** British asset manager Schroders said it had agreed to buy Swiss-based private equity firm Adveq Holding for an undisclosed sum.

** Croatia’s competition regulator AZTN has approved the sale of Splitska Banka by Societe Generale to the local unit of Hungary’s OTP Group, increasing OTP’s market share in Croatia to over 10 percent.

** A U.S. court has rejected a last-minute effort by billionaire investor John Fredriksen’s Frontline to prevent BW Group from acquiring a major stake in rival oil tanker firm DHT Holdings, DHT said.

** A failed bidder for Portugal’s third-largest lender Novo Banco has asked its lawyers to block the 1 billion euro ($1.08 billion) sale to U.S. fund Lone Star and told the central bank it should relaunch the bidding.

** Health insurer Anthem Inc denied a report on Thursday that it was in negotiations with the Justice Department in an effort to save its merger with smaller rival Cigna Corp .

** Mexican broadcaster Televisa said it had signed a deal with Spanish telecoms giant Telefonica that would give the mobile operator’s customers cheaper access to the broadcaster’s content carried on its digital platform Blim.

** London hedge fund firm Ecofin said an offer from Portugal’s largest company EDP to buy 22.47 percent of subsidiary EDP Renovaveis “significantly undervalues” the company, in a letter to EDPR’s board seen by Reuters. (Compiled by Ahmed Farhatha and Divya Grover in Bengaluru)</s>Macquarie Group’s David Fass said the deal 'will open further opportunities in low carbon investment both in the UK and further afield'. ― Reuters picLONDON, April 20 ― The UK Green Investment Bank (GIB), created by the British government to fund environmental projects, is to be sold to Australian financial services firm Macquarie Group in a £2.3 billion (RM12.9 billion) deal, the government said today.

Under the deal, worth US$2.6 billion, Macquarie has vowed to invest at least £3 billion of new funds into Britain’s green economy over the next three years.

The government, GIB’s sole shareholder, launched the sales process to privatise the fund last year.

“The Green Investment Bank has been very successful in attracting private capital to the UK’s green economy,” said Nick Hurd, Climate Change and Industry Minister.

“It now makes sense to move it into the private sector where it will be free from the constraints of public sector ownership”.

Macquarie Group’s David Fass said the deal “will open further opportunities in low carbon investment both in the UK and further afield.”

The GIB was created in 2012 to attract private investment and has so far helped fund around 100 green projects with a total capital expenditure of around £3.4 billion, including more than £1 billion in large infrastructure projects.

The fund has invested in six offshore wind farms and a new energy-from-waste plant in North Wales.

The £2.3 billion deal comprises a £1.7 billion transaction price and a £0.6 billion commitment for existing projects.

Robert Smith, chair of GIB’s board, said there was “compelling logic” behind the deal.

“We were determined to find a new owner...who would have access to deep pools of capital, a commitment to expand GIB’s activities, and a respect for the unique role GIB has played in the market.” ― AFP</s>Westminster has agreed a £2.3 billion deal to sell the Green Investment Bank to an Australian financial giant.

The Macquarie Group will hand over £1.7bn to clinch the sale, with the remainder coming in part from the UK-based Universities Superannuation Scheme, a private pension fund for academic staff.

Announcing the purchase, the group has said it will honour the bank’s new £3bn target for investment in green energy projects over the next three years and maintain its environmental focus.

It pledged to strengthen its commitment to Scotland by providing new opportunities for the low-carbon and financial sectors. The bank’s Edinburgh office and staff will also be retained.

Daniel Wong, head of Macquarie Capital, Europe, said: “The Green Investment Bank is a pioneering business, with outstanding people, expertise, credentials, brand and networks.

“By combining the Green Investment Bank with the largest infrastructure investor in the world, we will create a market-leading platform dedicated to investment in the low-carbon economy in the UK and beyond.”

The move has been welcomed by Scottish ministers, who had criticised the UK government’s decision to privatise the bank over concerns for the renewable energy industry.

Economy secretary Keith Brown said: “I welcome the Macquarie Group’s clear commitment to Scotland and the assurances we have received that it will maintain the Green Investment Bank’s unique identity and its focus on the green projects that are key to Scotland’s continued economic success.”

Niall Stuart, chief executive of industry body Scottish Renewables, added: “The Green Investment Bank has played a key role in securing investment for renewable energy, particularly in offshore, wind where we needed to bring in significant levels of capital in a short space of time.

“We welcome Macquarie’s commitment to build upon the bank’s achievements to date and to maintain its focus on the huge opportunities for further investment in the UK’s low-carbon energy infrastructure.”

But opposition parties have hit out at the sale, questioning the low price paid and Macquarie’s concern for the planet.

The group has a history of investing in fossil fuels, including fracking and opencast coal mining.

Scottish Greens MSP for the Lothians Andy Wightman says the bank’s new ownership leaves its environmental credentials “in tatters”.

Liberal Democrat Ed Davey, formerly UK energy and climate change secretary, described the deal as “politically dubious” and tantamount to “selling off the family silver”.</s>LONDON, April 20 (Reuters) - The British government said it will sell the Green Investment Bank (GIB) to a consortium led by Macquarie Bank in a deal worth 2.3 billion pounds ($3 billion), which critics said failed to guarantee its future.

The Australian bank's purchase of GIB, which backs green projects with public funds, had been expected since a court rejected the claim of a rival bidder earlier this month, but it has been vehemently opposed by environmental groups and some UK lawmakers.

They say Macquarie will strip the bank of its assets, potentially diluting its purpose of investing in green projects.

The government set up GIB in 2012 as a commercial venture to spur private investment in green projects. It has invested more than 2 billion pounds in projects such as offshore wind farms and waste management.

The deal comprises a 1.7 billion pound price tag and approximately 600 million pounds in funding commitments for existing GIB projects.

The government has provided 1.5 billion pounds since 2012, meaning that the transaction price at the date of signing represents a 160 million pound premium on total government funding.

The government decided to sell a majority stake in 2015, saying that would give the bank more freedom to borrow, free it from state aid restrictions and allow it to attract more capital.

The consortium's structure - comprising Macquarie Group, Macquarie European Infrastructure Fund 5 and Universities Superannuation Scheme - includes a "special share" arrangement whereby GIB's mandate would be safeguarded by five independent trustees, Macquarie said.

Macquarie pledged on Thursday to invest 3 billion pounds in green energy projects over the next three years. There were no guarantees on GIB's headcount as part of the deal but Macquarie said it would continue to operate from offices in London and Edinburgh, managing more than 4 billion pounds of green infrastructure assets and projects.

Critics said the government had failed to guarantee the future for the GIB's green credentials and criticised it for a lack of transparency.

"Selling the Green Investment Bank is environmentally irresponsible, and on the eve of an election is politically dubious. The government clearly hopes to avoid parliamentary scrutiny," said Ed Davey, former Liberal Democrat Secretary of State for Energy and Climate Change, referring to a national election in Britain to be held on June 8.

Bankers close to the deal, who did not want to be named, said there was little an investor could do with the bank except sell its assets.

"The GIB loses money, with two offices it is hugely expensive and there are no synergies between the businesses it runs," said one.

Daniel Wong, head of Macquarie Capital, Europe, said the bank would stand by its commitments.

"We understand the responsibilities that come with this ownership, and we are fully committed to maintaining its green purpose as we grow the business," Wong said.

A spokeswoman for Britain's Department for Business, Energy & Industrial Strategy said Bank Of America Merrill Lynch advised on the sale but declined to disclose its fee.

Read the original article on Reuters. Copyright 2017. Follow Reuters on Twitter.</s>The U.K. government sold the Green Investment Bank PLC for GBP2.3 billion ($2.93 billion) Thursday to a consortium led by Australian bank Macquarie Group Ltd., in a deal that was delayed by political opposition to the sale of the state-backed renewable energy fund.

Macquarie, already a big investor in the U.K.'s energy infrastructure, said it will combine its existing investments with those of made by the Green Investment Bank. GIB, which is essentially a fund and not a licensed bank, will oversee more than GBP4 billion in "green" infrastructure and assets such as wind farms, Macquarie said.

Investors including a Macquarie infrastructure fund, the U.K.'s Universities Superannuation Scheme and the U.K. government will invest in some of the projects, Macquarie said.

Nick Hurd, U.K. climate change and industry minister, said the government will make a profit of around GBP160 million on the sale, after providing GBP1.5 billion to fund GIB since 2012. The headline value of GBP2.3 billion includes GBP600 million the government had committed to the bank but now won't have to fund.

In a written statement to Parliament, Mr. Hurd said Macquarie will target GBP3 billion in new investments for GIB over the next three years, more than the government had been contributing.

The plan to sell GIB was announced in March 2016, 3 1/2 years. The fund was set up in November 2012 as a vehicle to pump government money into environmentally-conscious projects.

But the sale was held up by political wrangling, though, as some government officials raised concerns that GIB could be sold too cheaply or change its green mission. A rival bidder to Macquarie, Sustainable Development Capital LLC, made a legal attempt to block Macquarie's winning offer, saying taxpayers could get a better deal, but failed last month in getting a court to intervene.

No one from SDCL was immediately available to comment Thursday.

The sale comes at a time when governments globally face significant costs to replace aging infrastructure and curb their carbon footprints. Infrastructure investment across transport, energy and water systems is estimated to total $93 trillion over the next 15 years to achieve these two goals, the OECD said in a December 2015 report on Green Investment Banks, which also exist in several U.S. states and countries including Japan and Australia.

At the same time, pension funds and other big infrastructure funds are increasingly targeting renewable projects, taking advantage of the growing demand for investment to fund these often-expensive projects.

For the fiscal year ended March 31, 2016, the U.K.'s GIB made a 10% return, investing a total of GBP770 million in 30 projects including acquiring a 25% equity stake in the Galloper offshore wind farm off the coast of Suffolk in eastern England, and a project in Northern Ireland that produces energy from waste.

To appease concerns that the Green Investment Bank might stray from its environmentally-friendly mandate, a special share will be held by a committee of independent trustees that could block any attempt by the private owner's to change the green purposes of the fund.

Macquarie said GIB will become its platform for investing in green infrastructure in the U.K. and Europe. Existing investments include the building of the world's largest bioenergy plant in northeast England, and the installation of more energy efficient street lights in the English city of Nottingham.

Write to Margot Patrick at margot.patrick@wsj.com and Ben Dummett at ben.dummett@wsj.com</s>The UK government said today it would sell Green Investment Bank (GIB) to a consortium led by Macquarie Bank in a deal worth £2.3 billion.

The British government set up GIB, which backs green projects with public funds, in 2012 as a commercial venture to spur private investment in green projects.

It has invested more than £2 billion in projects such as offshore wind farms and waste management.

The UK government decided to sell a majority stake in 2015, saying it would give the bank more freedom to borrow, remove state aid restrictions and allow it to attract more capital.

Some lawmakers and environmental groups opposed the sale, saying Macquarie planned to strip the bank of its assets, potentially diluting its purpose of investing in green projects.

It includes a "special share" arrangement whereby GIB's mandate would by safeguarded by five independent trustees, Macquarie said.

Macquarie pledged to keep GIB's target of investing £3 billion in green energy projects over the next three years.

Macquarie added GIB would continue to operate from offices in London and Edinburgh, managing more than £4 billion of green infrastructure assets and projects.

"By combining the Green Investment Bank with the largest infrastructure investor in the world, we will create a market leading platform dedicated to investment in the low carbon economy in the UK and beyond," said Daniel Wong, head of Macquarie Capital, Europe.

"We understand the responsibilities that come with this ownership, and we are fully committed to maintaining its green purpose as we grow the business," he said.

Earlier this month, a court rejected the claim of a rival bidder for GIB, setting the stage for Macquarie to acquire the bank.</s>The Green Investment Bank (GIB), which was set up by the UK government just five years ago has been sold to Macquarie Bank, with a total value of £2.3bn.

The Treasury has managed to secure £1.7bn, a further £600m of liabilities have been passed on to the Australian firm.

The bank was set up to help fund renewable and low-carbon projects, it has invested around £800m per year so far.

The new deal with Macquarie should see this number rise to £3bn per year over three years.

Lord Smith of Kelvin, chairman of the GIB, said: “Macquarie has made significant and important commitments to the UK government to maintain GIB as a discrete entity within its business, maintaining GIB’s investment focus and approach with a target to invest more capital each year than GIB has historically.”

Lord Smith also added: “Macquarie will also uphold GIB’s green investment principles and report transparently on GIB’s green impact.

“Macquarie will utilise the market-leading expertise of the existing GIB team and will build on GIB’s deep commitment to Edinburgh.”</s>The UK government’s decision to sell the Green Investment Bank to Australian bank Macquarie for £2.3bn has been attacked by critics including the Liberal Democrats and Greenpeace as “politically dubious” and a “disaster”.

A consortium led by Macquarie, which also includes the bank’s European Infrastructure Fund 5 and the Universities Superannuation Scheme, a UK pension scheme for university professors, agreed to buy the GIB, established in 2012 by the coalition government to fund green infrastructure projects.

Macquarie has put up £1.7bn to buy the bank, with a further £600m in future funding commitments for existing GIB projects.

The privatisation drew strong criticism from environmental groups and opposition parties. Doug Parr, policy director at Greenpeace UK, said the sale would set the UK back on reaching its climate targets and mean more new jobs in the sector will go elsewhere.



He added: “If the government picks up its pace, the UK could be a world leader in renewable and green technology. But selling a great British success story, which levered private money into eco-projects, to a controversial Australian bank known for asset-stripping, is a disaster.”

Ed Davey, former Liberal Democrat secretary for energy and climate change, said: “Selling the Green Investment Bank is environmentally irresponsible, and on the eve of an election is politically dubious. The government clearly hopes to avoid parliamentary scrutiny.”

A government spokeswoman said the government had always aimed to sell the GIB by the spring.

Macquarie said it was committed to the GIB’s target of investing £3bn in green energy projects over the next three years, either directly or by arranging capital from other investors. Its first priority is the UK but it will also look for global investment opportunities, in Europe and Asia. Macquarie has already invested in one of Germany’s largest windfarms.

However, the former Lib Dem business secretary Vince Cable questioned what would happen after the three-year period. He told the Guardian that the sale was “very regrettable” and that “in the long term will simply disappear into the commercial part of Macquarie”. He also accused the government of selling it too cheap, arguing that some of its assets will be worth far more later.

Climate change and industry minister Nick Hurd said the sale had been backed by the GIB’s independent board, and ensured that the £1.5bn taxpayer investment had been recouped with a £200m profit.

Hurd said: “This deal gives us the best of both worlds. We have secured fair value for the UK taxpayer. GIB has a well-funded new owner that is committed to the Bank’s green mission, with a track record of success in green investment and an ambition to grow the business.”

The Green Investment Bank has stakes – either directly or via funds managed by third parties – in 85 projects that vary from an energy efficient street lighting project in Barking and Dagenham and windfarm in Dumfries and Galloway, to a biomass plant at Port Talbot and an energy-from-waste plant in Belfast. The bank also manages the world’s first offshore wind fund, with assets of £1.1bn.

The government is holding on to £135m of the GIB’s assets, which the institution will continue to manage until they can be sold for the best return to the public purse.

Macquarie will combine the GIB with its UK renewable energy investing business, and claimed that the deal would create one of Europe’s largest teams of green energy investment specialists, with well over 100. It pledged to keep the GIB’s brand and London and Edinburgh offices with a “substantial staff presence” in the Scottish capital. The business will continue to be led by senior GIB executives.

Macquarie sought to allay the concerns by pointing to the “special share” arrangements with the GIB’s five independent trustees, including an annual report on its green performance, an annual industry day for stakeholders and green reporting.



The GIB will manage or supervise more than £4bn worth of green infrastructure assets and projects. It will set up three new investment vehicles – an offshore wind investment vehicle, a low carbon lending platform and a green infrastructure investment platform.

Daniel Wong, head of Macquarie Capital in Europe, said: “We understand the responsibilities that come with this ownership, and we are fully committed to maintaining its green purpose as we grow the business.”</s>The government has agreed a £2.3bn sale of the Green Investment Bank to the Australian bank Macquarie, reports The Guardian.

The privatisation of the bank was expected in January but signoff was delayed in the face of stiff political opposition and wrangling over the final price.

Theresa May’s decision to call a snap election and political concerns that the deadlock could become a campaign issue may have broken the stalemate.

An official announcement is expected to be made by Nick Hurd, the climate minister, on Thursday, the Guardian understands.

Labour, the Liberal Democrats and the Green party have criticised the sale, questioning Macquarie’s track record and commitment to green energy. Former ministers including Lord Barker and Vince Cable also warned the taxpayer risks being shortchanged by the sale because some of its assets will be worth far more later.

But Hurd will argue that the sale achieves the government’s two objectives of maximising value for the taxpayer and maintaining the bank’s green mission.

Macquarie has put up £1.7bn to buy the bank, with a further £600m supplied in part by the UK-based Universities Superannuation Scheme, a pension scheme for university professors.

The road to completing the sale to the Australian bank was cleared when a judicial review brought by Sustainable Development Capital (SDCL) – a rival bidder for the bank – was refused by the high court earlier this month.

Under the deal reached, the bank will retain both its Edinburgh and London offices. It is expected the government will still hold £140m of the bank’s assets, which the institution will continue to manage until they can be sold for the best return to the public purse.

The Green Investment Bank has stakes – either directly or via funds managed by third parties – in 85 projects that vary from an energy efficient street lighting project in Barking and Dagenham and windfarm in Dumfries and Galloway, to a biomass plant at Port Talbot and an energy-from-waste plant in Belfast.

The bank also manages the world’s first offshore wind fund, which is comprised private capital from a sovereign wealth fund, European institutional investors and a number of UK pension funds. It was launched in 2012 with £1.5bn of taxpayer money under the coalition.

Environmental groups urged Macquarie to stay true to the bank’s original purpose.

Karen Ellis, chief adviser on economics and development at WWF-UK, said: “Macquarie must guarantee that the green mission of the bank is protected and maintained and that it will provide substantial new capital for green investments.

“Numerous market failures are constraining the availability of finance for green investment, so to ensure the Green Investment Bank continues to deliver on its mandate, it should invest in novel green projects, which are less likely to be funded privately; it needs to focus on crowding in additional finance by reducing the barriers to investment.”</s>Scores of jobs at the Edinburgh-based Green Investment Bank are to be safeguarded by its controversial new Australian owners Macquarie Group, it has been pledged.

Ministers said that under the new ownership at least £3 billion will be invested in the green economy over the next three years.

The Government-owned bank, which employs approximately 80 people at its Morrison Street headquarters, was launched in 2012 to channel investment into low carbon development.

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But critics have questioned Macquarie Group’s commitment to green projects, with Greenpeace UK labelling the deal ‘a disaster’.

Confirming the £2.3 billion, Climate Change and Industry Minister Nick Hurd said: “The Green Investment Bank has been very successful in attracting private capital to the UK’s green economy.

“It now makes sense to move it into the private sector where it will be free from the constraints of public sector ownership, allowing it to build further on its success.”

The bank has supported almost 100 green infrastructure projects, attracting £3 of third party capital for every £1 invested.

Mr Hurd said the deal was the “best of both worlds”, securing value for the taxpayer, while investment in the green economy will increase.

“GIB has a well-funded new owner that is committed to the bank’s green mission, with a track record of success in green investment and an ambition to grow the business.”

The sale means all taxpayer-funded investment in the bank, including set-up costs, has been returned with a profit, said the Government.

The bank’s brand will be maintained, and the new owners said they will utilise the skills of employees in Edinburgh and London.

The office in Edinburgh will be home to a new green energy business.

David Fass, chief executive of the Macquarie Group said: “The addition of the Green Investment Bank, its people and expertise, strengthens Macquarie’s commitment to the green energy sector.

“Our combined platform will build on the legacy of the Green Investment Bank and, alongside our knowledge of energy and infrastructure, will open further opportunities in low carbon investment both in the UK and further afield.

“We are excited by a business that will take a leading role in the green economy using the specialist knowledge of our teams in Edinburgh and London.”

Former energy secretary Sir Ed Davey, who is seeking a return to Parliament, said the sale was “environmentally irresponsible, and on the eve of the election is politically dubious”.

The £2.3bn sell-off, which specialises in backing environmentally-friendly projects, had faced cross-party opposition from Holyrood.

Bank chairman Lord Smith of Kelvin, said the board had supported the decision to privatise as the best route to securing its long-term future and growing green impact.

He said: “There is a compelling logic in the world’s first green bank joining forces with the world’s largest infrastructure investor.

“When we embarked on this process, we were determined to find a new owner who would build on GIB’s successful history - an owner who would have access to deep pools of capital, a commitment to expand GIB’s activities, and a respect for the unique role GIB has played in the market.

“Macquarie will bring all of this to GIB, along with its own impressive track record of green investments.

“Its vision for the future growth of GIB demonstrates a redoubling of its commitment to a low-carbon economy.”

But Doug Parr, policy director at Greenpeace UK, labelled the sale to the Australian firm “a disaster”.

“At a time when the Government should be shoring up low-carbon industry for post-Brexit Britain, they have given away one of our key tools for advancing green technologies.

“The hole left by the Green Investment Bank will slow our transition to a clean energy system, set us back on reaching our climate targets, and mean more of the jobs from new sectors will go elsewhere.”

Since it was formed, the bank, set up with money from the taxpayer, has invested in projects ranging from offshore wind farms and council LED street lighting to replacing boiler systems in sheltered housing, hydropower schemes, energy from waste plants and energy efficiency investments in distilleries.

The Scottish Government said it will ‘hold the company to account’.

A spokesman said: “The Macquarie Group has pledged to strengthen its commitment to Scotland by providing important new opportunities for the country’s low carbon industries and financial sector. Ministers have pledged to hold the company to account to ensure it delivers on its commitment.”

Economy Secretary Keith Brown said: “I welcome the Macquarie Group’s clear commitment to Scotland and the assurances we have received that it will maintain the Green Investment Bank’s unique identity and its focus on the green projects that are key to Scotland’s continued economic success.“

He added: “The latest statistics show the number of people employed in the renewable and low carbon industries here has risen to 58,500, highlighting the sector’s strong record of success in Scotland.

“This, alongside Edinburgh’s leading role in the financial services sector, means Scotland is uniquely well placed to support investment decision-making in renewables and low carbon projects and I will continue to work with the Macquarie group to underline this.

“The Macquarie Group has indicated that staffing levels at the Green Investment Bank’s Edinburgh offices will be maintained and are likely to increase overall in the longer term. We will follow developments closely in the months and years ahead.”
The United Kingdom government agrees to sell the UK Green Investment Bank to a group led chiefly by Australian financial firm Macquarie Group for $3 billion, in a deal criticized as not securing the future of the bank.