Finance
NatWest Buys £1 Billion of Shares as UK Offloads Stake
- CEO says it is a milestone on path to full privatization
- British bank also selling five-year debt to raise £500 million
A NatWest Group bank branch in London.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
NatWest Group Plc bought back £1 billion ($1.29 billion) of its shares from the UK government as the Treasury continues to sell down its stake in the lender.
The off-market purchase of 262.6 million shares brought the Treasury’s voting rights in the lender to about 11.4% from about 14.2% previously, according to a statement.