PTSB shareholders approve BAWAG acquisition proposal
The €2.97 per share transaction proceeds via a High Court-approved Scheme of Arrangement, with all necessary resolutions successfully passing at the Dublin meetings.
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Irish personal and business banking group
permanenttsbgroup.ieLast updated
In short: PTSB secured shareholder approval for its €1.62 billion takeover by BAWAG and reported a 34% surge in first-half profits.
The €2.97 per share transaction proceeds via a High Court-approved Scheme of Arrangement, with all necessary resolutions successfully passing at the Dublin meetings.
Underlying profit before tax rose 34% to €68 million, with total income up 7% and operating expenses down 1%.
Revenue grows 10%, cost/income ratio falls to 72%, asset quality strong. BAWAG Group offers 297 cents per share. Mortgage share c. 19%.
The award recognizes their Home Upgrade Tool, which helps customers estimate retrofit costs, explore options, and understand grants. They were also nominated in two other categories.
A High Court hearing on the proposed €1.62bn takeover of PTSB by Austrian lender BAWAG has been set for October 27. The hearing is the...
PTSB received approval from over 91% of shareholders to proceed with the cash offer to acquire the bank.
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