Koutalidis Law Firm advised Alpha Bank on its landmark deal with UniCredit

Koutalidis Law Firm is proud to have advised Alpha Bank on its landmark deal with UniCredit for the creation of a strategic partnership in Greece and Romania.

 This strategic partnership entails the

  • Merger of Romanian subsidiaries and creation of third largest bank in Romania by total assets, 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 to Alpha Bank’s 3.5 million clients and creation of a joint venture in pension-saving products with UniCredit becoming a 51% shareholder in AlphaLife and
  • 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%.

This is a landmark deal which represents the first direct investment of a strategic investor in the Greek banking system after 17 years and constitutes testament that the Greek banking sector and economy have embarked in a course of positive outlook and growth. We are grateful to have played a role in this landmark transaction and we are also very excited to see how this partnership unfolds and contributes to the growth of both banks and the Greek economy.

Our Team was led by Nikos Salakas, Head of our Banking and Finance, who advised Alpha Bank on all Greek law matters, along with our Banking and Finance Partner, Effie Papoutsi.