Government offloads £1.1bn chunk of state-backed lender NatWest

Business

The government has sold a £1.1bn chunk of NatWest taking its holding in the state-backed bank to less than 60%.

NatWest, then known as Royal Bank of Scotland, was saved by taxpayers in a £45.5bn rescue deal during the financial crisis more than a decade ago.

The latest deal reduces the Treasury’s holding in the lender from 61.7% to 59.8% after a tranche of shares was sold back to NatWest – rather than to the market.

Articles You May Like

Tesla Model 3 prototype spotted ahead of rumored design refresh
Antibiotics could be given to children at schools affected by Strep A
Gaming’s Oscars night is upon us – here are our picks for the top awards
Rad Power Bikes launches RadTrike, first major e-bike maker with affordable 3-wheeler
Analysis: One of Trump’s biggest defenders thinks he has a chance to lead the RNC