NatWest Group Plc has agreed to buy back £1.26 billion ($1.6 billion) of its shares from the UK government as the Treasury continues to sell down its stake after a bailout during the financial crisis over a decade ago.

The off-market purchase of 469.2 million shares will be made at Friday’s closing price of 268.4 pence, according to a statement Monday. The deal will see the Treasury’s voting rights in the lender drop to about 38.6% from about 41.4% previously.

The government will “keep other disposal options under active consideration, including by way of accelerated bookbuilds, when market conditions permit,” it said.

In April, the government announced the extension of a plan to sell more of its stake in NatWest, which was around 84% at its peak. The latest sale means the UK has sold more than half its shareholding.

The UK remains NatWest’s biggest shareholder about 15 years after it rescued what was then Royal Bank of Scotland in a £45.5 billion bailout.

Read More: UK Extends NatWest Share Sales by Two Years Through 2025

Goldman Sachs International is acting as privatization adviser to the government, while the trading plan is being managed by Morgan Stanley & Co. International Plc.