UniCredit announced on November 4 that it has completed the transaction by which it bought the majority stake in Alpha Bank Romania in a cash and equity deal that created the third-lartes banking group in the country (after Banca Transilvania and BCR) with a market share of 12% by assets.
Under the deal, UniCredit has acquired a 90.1% stake in Alpha Bank Romania from parent group Alpha International Holdings SMSA for a price composed of 9.9% of the share capital of UniCredit Bank Romania and approximately €255mn in cash .
The deal received approvals from all relevant authorities and the due diligence process successfully completed.
The acquisition marks the start of the process of gradual integration of Alpha Bank Romania into the UniCredit Group. After completing the necessary legal and authorization stages, the integration will be completed with the absorption merger of Alpha Bank Romania within UniCredit Bank, estimated to take place in the second part of 2025.
The transaction is part of the strategic partnership between UniCredit and Alpha Services and Holdings, announced in October 2023.
UniCredit appointed Antoaneta Curteanu to coordinate, as the new Executive President of Alpha Bank Romania, the process of integration into UniCredit Romania. On the side of UniCredit, Andrei Bratu will in turn join Alpha Bank Romania, in the position of Executive Vice President, coordinating the Wholesale Division responsible for managing corporate clients