PTSB shareholders approve Irish bank's $1.9 billion sale to BAWAG (updated)

BAWAG AG

30/07/2026 11:27

Adds further detail on completion in paragraph 4
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 set to mark 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.
The deal remains subject to regulatory approvals and the sanction of the Irish High Court, which PTSB said it expects in the final quarter of the year. 

($1 = 0.8744 euros)

 (Reporting by Padraic Halpin; editing by Sarah Young)
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