The Italian government cut its shareholding in Banca Monte dei Paschi di Siena by 15% allowing peers Banco BPM and Anima Holding to buy a stake in the world’s oldest bank.

Italian asset manager Anima said on Friday it appointed Goldman Sachs as financial adviser to assess an up to 1.6-billion-euro ($1.71 billion) buyout proposal from Banco BPM .

Giorgia Meloni’s government sold a minority stake in Banca Monte dei Paschi di Siena SpA to rival Banco BPM SpA, a move aimed at bolstering the Italian shareholder base of the world’s oldest bank.