Banks grab distressed UK assets
Six European banks intend to buy around 10GW of distressed UK power assets usingfinancial instruments. But their main rival, MMC, says hard cash is needed towin the UK market. By James Ockenden
According to a source close to the formation of CGE, the company aims to acquirearound half of the estimated £5.5 billion, 20GW distressed asset base inthe UK.
The London-registered company has
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