State holding in PTSB to shrink to 60% due to Ulster Bank deal
As part of the €7.6 billion loan book buyout, NatWest is due a 20 per cent share in Permanent TSB, which will dilute the shareholding of other investors
The size of the government’s majority shareholding in Permanent TSB is set to reduce to around 60 per cent after the bank announced plans last Friday to acquire €7.6 billion of mortgages and business loans from Ulster Bank.
Under the terms of the deal, NatWest, the British parent of Ulster Bank, will take a circa 20 per cent stake in PTSB, which will dilute the shareholdings of other investors, including the Irish state. This means ...