Investment manager Schroders had struck an agreement to purchase a 75 per cent stake in green finance specialist Greencoat Capital.

The £358million deal also includes a potential payout worth up to £120million should Greencoat achieve specific revenue targets and its senior management continues to be employed over the next three years.

Schroders will see £6.7billion of additional assets brought under its management and gain control of five investment funds involved in financing renewable energy projects.

Read more/Source: This is Money