<-- Back to proposed bills
Financial Services
18 November 2024
Type
Written Ministerial Statement
Department
Treasury
At a Glance
Issue Summary
The statement updates the House on the disposal of £1 billion worth of government-owned NatWest Group shares, representing approximately 3.2% of the company.
Action Requested
The government has sold a portion of its stake in NatWest to efficiently deploy excess capital and progress towards returning the shareholding to private ownership by 2025-26. The sale concluded on November 11, 2024, with approximately £1 billion proceeds.
Key Facts
- Government's remaining shareholding represents approximately 11.4% of voting rights in NatWest.
- Total shares sold to NatWest: c.262.6m shares.
- Share price at market close on 08/11/2024: 380.8p.
- Net sale proceeds from the transaction: £1bn.
- Public Sector Net Debt reduced by £1bn.
▸
Assessment & feedback
Summary accuracy