Investing.com -- NatWest Group PLC (LON: NWG ) has sold its entire 11.7% stake in Irish lender Permanent TSB Group, raising €126 million through a placing with institutional investors.
The British banking group completed the transaction at a price of €1.98 per share, according to a company statement on Tuesday.
NatWest indicated that the disposal would have "an immaterial impact" on its CET1 capital ratio and tangible net asset value per share.
As part of the arrangement, the Minister for Finance of Ireland has committed not to sell any shares in Permanent TSB for 90 calendar days following the completion of the placing, under a shareholder co-operation agreement.
Permanent TSB is an Irish financial institution that focuses on retail banking and small business lending services.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.