The United Kingdom Government Investments Limited (UKGI) announced on Monday that NatWest Group PLC bought 4.95% of the government's stock with the company, translating to 469,200,081 ordinary shares.
According to the UKGI's written statement, the off-market purchase was agreed upon at the price of 268.4 pence per share, the value the stocks had when the trading on the London Stock Exchange (LSE) closed on May 19, 2023. "The total consideration for the Off-Market Purchase will be £1,259,333,017.40," the agency said. "As a result of the Off-Market Purchase, HM [His Majesty's\ Treasury's percentage of voting rights in the Company will fall from approximately 41.4% to approximately 38.6%."
The statement also revealed Goldman Sachs International is acting as a privatization adviser in the deal, Freshfields Bruckhaus Deringer LLP as the UKGI's legal counsel, and Morgan Stanley & Co. International plc as a trading plan manager.
