Alpha Services and Holdings SA, 100% parent company of Alpha Bank SA, announced that its fully controlled subsidiary, Alpha International Holdings SMSA, entered into a binding agreement with UniCredit SpA for the sale of 90.1% of Alpha Bank Romania SA to UniCredit and subsequently the merger of the two parties’ subsidiaries in Romania.
The transaction is part of the Strategic Partnership between Alpha Holdings and UniCredit which was announced on October 23, 2023.
According to the terms and conditions of the transaction, UniCredit will acquire 90.1% of the share capital of Alpha Romania in exchange for:
-9.9% of the share capital of UniCredit Bank S.A. (“UniCredit Romania”) and
-256 million euros in cash.
Upon completion of the transaction, which is subject to all applicable regulatory approvals and consents, AIH will own 9.9% of Alpha Romania and UniCredit Romania. In addition, the transaction, which increases the capital adequacy ratio for Alpha Bank by approximately 100 basis points, is expected to be completed by the end of 2024.
Alpha Romania will merge with UniCredit Romania forming a single banking entity, in which AIH will hold 9.9%.
