The strategic partnership includes:
- Merger of Romanian subsidiaries and creation of third largest bank in Romania, with Alpha Bank retaining a 9.9% stake.
- Establishment of a commercial partnership framework in Greece to distribute UniCredit’s asset management and unit-linked products in Greece and creation of a joint venture in pension-saving products with UniCredit becoming a 51% shareholder in AlphaLife.
- Acquisition by UniCredit from the Hellenic Financial Stability Fund (HFSF) of all the shares that HFSF held in Alpha Services and Holdings, namely a stake of 8,9781%.
UniCredit is a commercial bank serving over 15 million customers worldwide. They have a unique service offering in Italy, Germany, Central and Eastern Europe.
Alpha bank was founded in 1879 and is the fourth largest bank Greek Bank by total assets. It holds a subsidiary and branch in London, England and has subsidiaries in Romania and Cyprus too.
Alpha Bank was advised by Koutalidis.
