Green Investment Bank

Department for Business, Energy and Industrial Strategy written question – answered am ar 23 Ionawr 2017.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Myners Lord Myners Crossbench

To ask Her Majesty’s Government who will advise them on the acceptability of the proceeds to be achieved by the sale of the Green Investment Bank; and what is the process by which the Secretary of State will establish his view on value after receiving this advice.

Photo of Lord Prior of Brampton Lord Prior of Brampton Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The sale of the Green Investment Bank (GIB) is being led by UK Government Investments, with advice from Bank of America Merrill Lynch and Herbert Smith Freehills. GIB and their advisors (UBS and Slaughter and May) are also providing significant and closely coordinated support.

The Government is following the National Audit Office’s recommendations on asset sales in carrying out the sale of shares in GIB, as set out in the document “Green Investment Bank: sale of shares” laid before Parliament on 3 March 2016.

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