NatWest Makes $147 Million From Permanent TSB Exit

By Elena Vardon

NatWest Group sold its 11.7% stake in Permanent TSB for 126 million euros ($147 million), effectively exiting its position in the Irish lender.

The U.K. bank, which was PTSB's second largest shareholder after the Irish government, on Tuesday said it completed the full disposal of the stake through the placing of 63.6 million shares in an accelerated book building process.

The shares were placed at a price of 1.98 euros each, a 5.3% discount to Monday's closing price of 2.09 euros. The settlement of the placing will take place on Thursday.

The transaction won't impact NatWest's common equity tier 1 ratio or its tangible net asset value, it added.

Write to Elena Vardon at elena.vardon@wsj.com