Shareholders in PTSB have agreed to sell the bank to the Austrian banking group BAWAG for €1.6bn following a meeting in Dublin on Thursday which saw over 91% approve the deal. The purchase price is for €2.97 per share, a 26% premium on the bank's share price, resulting in an overall price tag of €1.6bn. There has been criticism of the final sale price of the company with some shareholders voicing their concern in the room. One shareholder complained that they believed the share sale prices was "too cheap" and questioned why the board is selling the company for so little. She added that "while we'd all like to see a higher price" the current sale price is the one the market was willing to offer.