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LONDON - The UK Government, through UK Government Investments Limited (UKGI), has finalized the sale of its remaining shares in NatWest Group plc, effectively ending its status as a shareholder in the banking group. This marks the completion of a disposal process that began with a trading plan announced on July 22, 2021, and extended on April 3, 2023.
The total revenue generated from the sale of the government’s shares in NatWest Group amounts to £24.8 billion, with £13.2 billion raised through the aforementioned trading plan. Additionally, £5.7 billion was secured via three placings to institutional investors, and £5.8 billion through five directed buybacks by NatWest Group itself. Including dividends and other fees, His Majesty’s Treasury (HM Treasury) has received a total of £35.0 billion from its investment in the bank.
The conclusion of this trading plan signifies the UK government’s complete exit from the ownership of NatWest Group, a move that has been in progress since the financial crisis when the bank, formerly known as Royal Bank of Scotland (NYSE:RBS_old_old), was bailed out by the government.
Goldman Sachs International served as the Privatisation Adviser for the UKGI during the process, while Freshfields LLP provided legal counsel concerning English and US law. Morgan Stanley & Co (NYSE:MS). International plc managed the trading plan.
The press release emphasizes that this information is purely for informational purposes and should not be construed as an offer to sell or a solicitation to purchase any securities. The securities mentioned have not been registered under the U.S. Securities Act of 1933 and are not offered or sold in the United States without registration or an exemption from registration requirements.
This disposal concludes a significant chapter in the UK’s financial history, representing the government’s retreat from a position it has held since the 2008 financial crisis. The information is based on a press release statement.
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