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The Dutch government announced on Tuesday its plan to reduce its stake in ABN Amro by a quarter to 30% through a trading plan. Shares of the Dutch bank dipped 1.2% at the market open and were down 0.6% as of 9:15 a.m. London time. The government, currently holding a 40.5% interest in ABN Amro, will sell shares using a pre-arranged trading plan executed by Barclays Bank Ireland.

ABN Amro was rescued by the state during the 2008 financial crisis and privatized in 2015. The government has been gradually decreasing its shareholding in the firm. The Finance Minister stated that the stake would need to be sold at 31.49 euros per share to recoup the government’s total expenditure, which is not feasible in the short term given the current share price of 15.83 euros.

The banking sector has been in focus recently, with UniCredit’s move to acquire a stake in German lender Commerzbank raising questions about cross-border mergers in Europe. Governments have been taking advantage of the rebound in shares to divest their shareholdings in banks acquired during the financial crisis. ABN Amro was previously linked to acquisition speculation, with reports of interest from BNP Paribas, which the French bank denied.

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