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Investing.com -- The UK government has further reduced its stake in NatWest Group, bringing the bank closer to full private ownership.
The Treasury sold off 69.9 million ordinary shares of the London-based retail and commercial lender, according to regulatory filings on Tuesday.
This sale reduces the government’s shareholding in NatWest to 3.95%, down from the previous 4.82%. The government now holds 1.27 billion voting rights in the lender, which equates to 318.7 million shares.
The stake is valued at nearly 1.5 billion pounds.
This government stake in NatWest Group is a result of the 2008 bailout of the Royal Bank of Scotland (NYSE:RBS_old_old). The Royal Bank of Scotland acquired NatWest in 2000 and subsequently rebranded the enlarged company as NatWest Group in 2020. The latest share sale is part of the government’s ongoing plan to return the bank to private ownership.
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