Cerberus firm buys last of PTSB's British loans
Sale completes plan agreed with EU over bank's restructure
Permanent TSB has agreed to sell its remaining loans in Britain to a company owned by investment fund Cerberus Capital Management for £1.95 billion in cash.
Under the deal, the bank is selling £2.29 billion worth of loans to Cerberus.
A cerberus-linked company had already acquired half of the loan assets of PTSB’s former subsidiary Capital Home Loans (CHL ) a year ago.
The money from the sale will be used to reduce ...
