NatWest Group PLC (LSE:NWG) has netted €55.2mln after completing the sale of part of its stake in Permanent TSB Group Holdings PLC (PTSB), the Irish bank.
The Minister for Finance of Ireland and NatWest have sold 10% of PTSB, representing 54.6mln shares.
As part of this, NatWest sold 27.3mln shares, representing 5.0% of the share capital of PTSB.
The sale was effected by way of a placing of shares in an accelerated book building process.
NatWest now holds 11.7% of PTSB and received proceeds €55.2mln from the deal.
The high street lender said the disposal will have an immaterial impact on its CET1 ratio and its TNAV per share.
NatWest CEO Alison Rose said: “This transaction represents further positive progress on our phased withdrawal from the Republic of Ireland."