The UK government has extended the time frame during which it intends to sell part of its stake in Natwest Group PLC to August 2025, two years later than originally planned.
Under the arrangement, managed by Morgan Stanley (NYSE:MS), the Treasury aims to sell up to, but no more than, 15% of aggregate total trading volume in the company at a price the government considers fair value.
So far the government has received around £3.7bn under the plan and still owns 41.5% of NatWest.
The UK government took control of the bank, previously known as Royal Bank of Scotland Group, during the 2007-08 financial crisis.