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DUBLIN - Permanent TSB Group Holdings plc (PTSB) confirmed Tuesday that NatWest Group plc is divesting its entire shareholding in the Irish bank, according to a press release statement.
The announcement marks a significant step in PTSB’s efforts to normalize its shareholder composition and increase liquidity in the bank’s shares, the company said.
Eamonn Crowley, Group Chief Executive of PTSB, stated: "We welcome the decision by NatWest to dispose of their shareholding in PTSB. This marks another important step towards normalising the composition of our shareholder base and creating further liquidity in the Bank’s shares."
Crowley added that the sale "demonstrates there is a strong market appetite to invest in PTSB, and confidence in our strategic direction."
The PTSB chief executive acknowledged NatWest’s support over recent years, particularly regarding PTSB’s acquisition of Ulster Bank businesses in Ireland.
Neither company disclosed the size of NatWest’s stake, the financial terms of the transaction, or the identity of the buyers in the announcement.
NatWest Group, formerly Royal Bank of Scotland (NYSE:RBS_old_old), has been reducing its presence in the Irish market in recent years as part of its strategic restructuring.
The sale comes as PTSB continues to strengthen its position in the Irish banking sector following significant structural changes in the market, including the exit of several international banks.
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