UniCredit acquires majority stake in Alpha Bank Romania, forming third-largest bank in the country

The Italian group UniCredit announced on November 4 that it had completed the transaction by which it bought the majority stake in Alpha Bank Romania in a cash and equity deal that created the third-largest banking group in the country (after Banca Transilvania and BCR) with a market share of 12% by assets.

Under the deal, Italian group 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 EUR 255 million in cash.

The deal received approvals from all relevant authorities, and the due diligence process was 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 achieved with the absorption merger of Alpha Bank Romania within UniCredit Bank, which is 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.

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