PTSB shareholders approve Irish bank's $1.9 billion sale to BAWAG
PTSB shareholders approve Irish bank's $1.9 billion sale to BAWAG DUBLIN, July 30 (Reuters) - Permanent TSB PTSB.I shareholders approved the Irish bank's sale to Austria's BAWAG Group BAWG.VI on Thursday in a €1.6 billion ($1.85 billion) deal that marks the Irish government's exit from its last financial-crisis-era shareholding.
The mortgage-focused lender's board recommended the offer in April and 91% of shareholders voted in favour, according to proxy votes tallied up at a company meeting.
The deal needed to cross the 75% threshold to proceed and had the backing in advance of the Irish government, which holds a 57.5% stake after effectively nationalising the bank following a banking crisis in the country more than 15 years ago.
($1 = 0.8744 euros)
(Reporting by Padraic Halpin; editing by Sarah Young)
((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
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