Overview
- Permanent TSB, which agreed Tuesday to a €2.97-per-share cash offer from Austria’s BAWAG, would be valued at about €1.62 billion.
- Ireland’s finance minister approved selling the State’s 57.5% stake for about €931 million, closing the last crisis-era bank holding.
- Media estimates suggest the sale would leave taxpayers close to €300 million short on the original PTSB bailout.
- Closing needs a super-majority shareholder vote, Central Bank approval and a High Court scheme of arrangement, which points to a months-long timeline.
- BAWAG said it will keep a meaningful branch network and key operations in Ireland, with no immediate changes for customers.