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Permanent TSB Group Holdings PLC on Monday said private equity firms Lone Star Funds and Sixth Street have thrown their hats in the ring to acquire the Dublin-based lender which put itself up for sale in October. Lone Star Fund XII Acquisitions LLC is among the participants in the formal sale process, Permanent TSB confirmed. Also participating is as a consortium involving Sixth Street Luxembourg Sarl and Centerbridge Partners LP, ‘on behalf of certain of their affiliated investment funds or vehicles’, Permanent TSB said as it noted a recent press report. The Sunday Times reported Lone Star and Centerbridge Partners were in the running to buy Permanent TSB. The newspaper said Centerbridge would be likely to make a bid in tandem with another party, and JC Flowers & Co had been touted as a possible partner. Permanent TSB said: ‘Shareholders are advised that this announcement does not represent a firm intention by any of Lone Star or the consortium, or any other party. ‘There can be no certainty that any offers will be made, that any sale or other transaction will be concluded, nor as to the terms on which any offer or other transaction may be made.’ Earlier in March, the firm said Bawag Group AG was among its suitors. The Vienna-based bank also confirmed its interest. London listed lender Permanent TSB, which the Irish state has around a 57% stake in, put itself up for sale back in October. ‘PTSB is an important part of the retail banking sector and wider Irish economy, and its continued sustainable growth is critical to ensuring competition in the market and providing choice to consumers,’ it said on Monday. The Irish government once owned 99% of Permanent TSB, when it bought shares during the financial crisis. NatWest Group PLC in July sold its stake Permanent TSB, raising €126 million. It sold an 11.7% interest through an accelerated book building process. NatWest received an original 16.7% stake in Permanent TSB in late 2022 as part payment for Ulster Bank loans it sold to Permanent TSB. It then trimmed its stake in 2023. Permanent TSB shares were untraded in London on Monday morning, last quoted at €3.02 for a €1.60 billion market capitalisation. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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