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Announced

Completed

Permanent TSB completed the acquisition of 25 branches of Ulster Bank for $7.3bn.

Financials

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Transaction Value£5,452m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

clearing banks

Single Bidder

Acquisition

Majority

Ireland

Friendly

Domestic

Banks

Completed

Synopsis

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Permanent TSB, a personal financial services provider, completed the acquisition of 25 branches of Ulster Bank, a retail bank, for $7.3bn. "This is a transformational day for Permanent TSB as we work towards our ambition of being Ireland's best personal and small business bank. We extend a warm welcome to the 56k mortgage customers and our new colleagues who are joining us today and we want to assure them that we will give them a best-in-class mortgage offering and colleague experience, underpinned by a high-quality service and great people," Eamonn Crowley, Permanent TSB CEO.

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