Announced
Financials
Sources
Tags
banking
Banks
Acquisition
Greece
Friendly
Single Bidder
Cross Border
Minority
Private Equity
Public
Pending
Synopsis
UniCredit, an international banking group, agreed to acquire a 9% stake in Alpha Bank, the second largest Greek bank by total assets, from Hellenic Financial Stability Fund, a legal entity that monitors, evaluates, manages and provides capital support to credit institutions, for €293.5m ($314m). If the process with the HFSF is not completed, UniCredit has committed to purchase on market an equity stake equal to the lower of 5% or a different percentage of shares which results from UniCredit investing an aggregate pre-agreed amount over a period of 24 months.
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