Government backs sale of PTSB for €1.6bn, shares drop sharply
The board of PTSB has agreed a deal with Austria’s BAWAG to support a sale of the bank for €1.619bn in cash.
Minister for Finance Simon Harris, who controls a 57.5pc stake on behalf of taxpayers, has backed the deal, the banks said.
- Austria’s Bawag to Take Over Irish Bank Permanent TSB in $1.9 Billion Deal Wall Street Journal —
- PTSB sold to Austria's BAWAG Group for €1.6 billion RTE —
- Austrian bank Bawag wins race to buy PTSB for almost €1.62bn Irish Times —
- BAWAG to acquire Permanent TSB in ~$1.9B deal Seeking Alpha —
- Permanent TSB to be sold to Austrian bank for 1.6 billion euro Belfast Telegraph —