LONDON, UK: NatWest Group plc and the Irish government have announced their intention to sell part of their shareholdings in Permanent TSB Group Holdings PLC (PTSB), a leading provider of retail and SME banking in the Irish market. The sale will be done through a placing to institutional investors, with the price to be determined…
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Permanent TSB to acquire Ulster Bank’s Irish business for €6.4bn
LONDON, UK: Permanent TSB has entered into binding agreements with NatWest Group and Ulster Bank Ireland for the acquisition of certain elements of the Ulster Bank Retail, SME and Asset Finance business in the Republic of Ireland. As at 30 June 2021, the transaction includes approximately €7.6 billion of assets and consists of the following…
Morgan Stanley to acquire non-performing loans of Permanent TSB
LONDON, UK: Permanent TSB (PTSB) has agreed the sale of a loan portfolio to Morgan Stanley Principal Funding Inc. Permanent TSB is a wholly owned subsidiary of Permanent TSB Group Holdings. Morgan Stanley intends to securitise the loan portfolio following completion of the acquisition next year (2022). Neither the sale nor the securitisation of the…
Permanent TSB to buy €7.6 billion worth of assets of the Ulster Bank business
LONDON, UK: NatWest Group plc and Ulster Bank in the Republic of Ireland have today entered into a non-binding Memorandum of Understanding (MOU) with Permanent TSB (PTSB) for the proposed sale of a perimeter comprising performing non-tracker mortgages, performing micro-SME loans, Ulster’s asset finance business and a subset of its branch locations. The proposed perimeter…