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Macquarie, Others Drop $2.95B On UK Green Bank

Law360, New York (April 20, 2017, 4:45 PM EDT) -- Macquarie Group Ltd. said Thursday it and other investors will buy UK Green Investment Bank PLC from the British government for £2.3 billion ($2.95 billion), despite concerns that a sale to the Australian financial services firm could result in the environmental investment bank having its assets stripped.

The British government said that a sale to private owners was the next logical step in the development of GIB, which was established in 2012 with taxpayer money. A Macquarie fund and Universities Superannuation Scheme, a U.K. private pension...
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