Blackstone Group LP (BX) plans to sell half its common stock and a portion of its preferred stock in ATM maker NCR Corp. (NCR), which is granting the bank an early release for the sale.

NCR’s lockup period for Blackstone on preferred shares was set to expire in June. Now, Blackstone will be granted a release immediately to sell 49 percent of its stake while the other 51 percent gets a new lockup period through Dec. 1, NCR announced.

Blackstone Group will convert 90,000 preferred shares into 3 million shares of common stock, which NCR will buy as part of its share buyback program. So far this year, NCR has repurchased about 4.4 million shares for $204 million under a working share repurchase program. It will increase its planned 2017 program to $350 million from $300 million to accommodate the deal with Blackstone.

Blackstone originally invested $820 million into NCR in 2015 after NCR could not sell itself. It maintains two seats on NCR’s board of directors.

“In a win-win solution, we have agreed to provide Blackstone with an early release to sell 49% of its holdings, or approximately 14.4 million shares on an as-converted basis,” said NCR CEO Bill Nuti. “This transaction is more accretive to our stockholders than further open market purchases, eliminates the ongoing dividend costs on the preferred shares, is accretive to EPS and reduces our financial leverage.”

The sale could fetch about $698 million for Blackstone, based on NCR’s closing price Friday. However, NCR shares were down 5.6 percent early in Monday’s session. (See also: America’s Biggest Landlord Files for IPO.)

As a result of the deal, NCR increased its full-year non-GAAP earnings guidance by $0.02, to $3.27 to $3.37 per share.

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.