Permanent TSB Group Holdings (PTSB) has confirmed that US private equity firm Lone Star is participating in the bank’s ongoing Formal Sale Process, originally announced on 30 October 2025.
In a statement released Monday, PTSB addressed recent media speculation regarding Lone Star’s involvement. The bank said that Lone Star Fund XII Acquisitions, LLC, along with a consortium comprising Sixth Street Luxembourg S.à r.l. and Centerbridge Partners, L.P., representing certain affiliated investment funds or vehicles, are taking part in the sale process. Earlier this month, PTSB confirmed that Austria’s BAWAG is also among the participants.
PTSB emphasized that participation in the process does not constitute a firm intention to make an offer under Rule 2.7 of the Irish Takeover Rules. The bank noted there is no certainty that any offers will be made, nor that a sale or other transaction will be completed, and the terms of any potential offer remain unknown.
The objective of the sale process, the bank said, is to identify a new owner that can build on PTSB’s recent strategic and financial progress, while supporting the next phase of the company’s growth and development. The bank assured customers that its operations, products, and services will remain unaffected by the process.
PTSB said it will continue engaging with relevant parties, potential offerors, and other stakeholders in the coming weeks, and a further announcement will be made at the appropriate time.
The bank’s clarification comes amid heightened interest from private equity and international investors, reflecting PTSB’s position in the Irish banking sector and its recent performance improvements. Analysts have noted that participation by well-known investment firms such as Lone Star, Sixth Street, and Centerbridge underscores the perceived value of PTSB as a strategic acquisition target.
PTSB has focused on strengthening its financial position over recent years, including improving capital ratios, streamlining operations, and expanding its retail and SME banking offerings. The sale process aims to secure a long-term partner capable of sustaining and enhancing this progress.
The inclusion of multiple high-profile investment firms indicates a competitive environment, though PTSB reiterated that there is no guarantee any party will make a formal offer. Market observers will be watching the process closely, given the potential impact on the Irish banking landscape.
Customers and stakeholders are advised that the announcement does not affect day-to-day banking services. PTSB’s management reaffirmed its commitment to maintaining stability while navigating the ongoing sale process.
The bank plans to issue updates as the Formal Sale Process progresses, keeping the market informed of any developments regarding potential offers or transactions.
