Ireland’s Department of Finance published a statement from Tánaiste and Minister for Finance Simon Harris welcoming and supporting Permanent TSB Group Holdings plc’s recommended cash offer from BAWAG P.S.K, under which BAWAG would acquire the entire issued share capital of Permanent TSB. The offer values Permanent TSB at €1.6bn, implying a 26% premium to the undisturbed share price and 45% to the undisturbed six-month volume weighted average share price. At the offer price of €2.97 per share, the State’s 57.5% holding (313,382,197 ordinary shares) would generate approximately €931m in proceeds, which would be held in the Exchequer while the Tánaiste considers how best to use them; the Minister also committed to vote in favour of the offer in respect of the State’s stake. The transaction follows the company’s Formal Sale Process announced on 30 October 2025. Implementation is expected via a High Court-sanctioned scheme of arrangement and remains subject to conditions and other terms set out in the company’s announcement, with no assurance that the transaction will complete.
Department of Finance (Ireland) 2026-04-14
Ireland's Department of Finance backs BAWAG’s €1.6bn recommended cash offer for Permanent TSB
Ireland’s Department of Finance issued a statement from the Tánaiste and Minister for Finance supporting BAWAG P.S.K.’s EUR 1.6bn cash offer to acquire the entire issued share capital of Permanent TSB Group Holdings plc. The State’s 57.5% stake would generate about EUR 931m in proceeds, to be held in the Exchequer while the Tánaiste considers their use, and the Minister will vote in favour of the offer. The transaction is expected to be implemented via a High Court-sanctioned scheme of arrangement and remains subject to conditions with no assurance of completion.