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PTSB To Be Sold To Austrian Bank, BAWAG, For €1.6 Billion

File image: Rolling news

The state will receive €931 million for its 57.5 per cent stake in the company

PTSB is to be sold to an Austrian bank, BAWAG, for €1.6 billion.

The state will receive €931 million for its 57.5 per cent stake in the company.

Cabinet signed off on the sale today.

Tánaiste and Finance Minister Simon Harris says PTSB’s employees' rights will remain the same under the new ownership of Austria’s BAWAG group.

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