Shareholders approve transaction
PTSB shareholders approve BAWAG's all-cash acquisition with 91% support; completion expected Q4 2026 or Q1 2027.
- Shareholder approval 91% of votes cast
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| Vienna, July 30, 2026 - Today, the proposed acquisition of Permanent TSB Group Holdings plc ("PTSB") reached another important milestone. At today's scheme meeting, PTSB's shareholders approved the transaction with 91% of votes cast at the meeting supportive of the transaction and all related resolutions at the PTSB extraordinary general meeting ("EGM") receiving the requisite approvals. The full text of the PTSB announcement relating to the PTSB shareholder approvals, including details of the voting results on each resolution proposed at the PTSB scheme meeting and EGM, can be found here: Market Announcements | Permanent TSB. |
With this approval, the transaction has reached the required shareholder majority for BAWAG Group's all-cash offer, announced in April 2026, to acquire 100% of PTSB's issued share capital.
"We would like to thank PTSB's long-term shareholders for the trust and confidence they have shown in supporting the proposed transaction. We recognize the responsibility that comes with that support and remain fully committed to delivering on our plans for the bank specifically and more broadly our investments in Ireland. We are excited about the opportunity to further build on PTSB's strong foundation as part of BAWAG Group's long-term growth strategy", comments Anas Abuzaakouk, CEO BAWAG Group.
The completion of the transaction is expected in the fourth quarter of this year or the first quarter 2027 and remains subject to satisfaction or waiver of the other conditions set out in the Scheme Document sent to PTSB shareholders dated 15 May 2026, including High Court sanction and the remaining regulatory approval.
ABOUT BAWAG GROUP
BAWAG Group (BG) is a pan-European and U.S. banking group serving more than four million customers. The Group is committed to delivering simple and intuitive banking solutions, combining its digital-first approach with an advisory-focused branch network. BAWAG is dedicated to creating long-term, sustainable value for all stakeholders by driving operational excellence, fostering customer-focused innovation, and upholding the principles of responsible banking. Through the consistent and disciplined execution of its strategy, BAWAG Group is one of Europe's financially most successful and efficient banking groups today.
BAWAG Group's Investor Relations website bawaggroup.com/ir contains further information, including financial and other information for investors.
Responsibility statements required by the Irish Takeover Rules
The directors of the management boards of each of BAWAG and BAWAG PSK (the "BAWAG Directors") accept responsibility for the information contained in this Announcement. To the best of the knowledge and belief of the BAWAG Directors (who have taken all reasonable care to ensure that this is the case), the information contained in this Announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.