UniCredit to acquire a 90.1% stake in Alpha Bank Romania.

UniCredit, a a pan-European commercial bank, agreed to acquire a 90.1% stake in Alpha Bank Romania for 9.9% of the share capital of UniCredit Romania and €255m. "This is a decisive step in our strategic partnership with Alpha, allowing us to further enhance our presence in the country for the benefit of clients and our wider stakeholders. Romania holds strategic importance within our growing Eastern European region. With a stronger, efficient bank powered by innovative products made available to a larger customer base we will be able to increase support to individuals, SMEs and local communities. The resulting bank will be well positioned for growth opportunities in the market, as well as for the development of the potential of all employees in Romania and across the wider Group," Andrea Orcel, UniCredit CEO.