The Hellenic Financial Stability Fund (HFSF) announced that it has agreed to sell its entire stake in Alpha Services and Holdings S.A., that is 211,138,299 common registered shares, corresponding to 8.9781% of Alpha’s paid-up share capital and voting rights – to UniCredit S.p.A., pursuant a share purchase agreement between HFSF and UniCredit on November 12, 2023.
The transaction followed the conclusion of a competitive process launched by HFSF on October 30, 2023, after a binding offer from UniCredit for the acquisition of the shares received by HFSF, on October 23, 2023. UniCredit purchased all of the shares at a price of 1.39 per share, representing a premium of 9.4% to the undisturbed closing price of the shares on the Athens Stock Exchange on October 20, 2023, and a discount of 0.4% to the closing price of the shares on the Athens Stock Exchange on November 10, 2023.
Lazard Frères SAS acted as Disposal Advisor and Rothschild & Co acted as Divestment Strategy Advisor. Skadden, Arps, Slate, Meagher & Flom (UK) LLP and Kyriakides Georgopoulos Law Firm acted as external legal counsel to HFSF.
