Alpha Bank is once again becoming 100% private with the entry of a first-line strategic investor, says Alpha Bank CEO Vassilis Psaltis in a statement on the occasion of the Financial Stability Fund’s acceptance of UniCredit’s offer to acquire the whole of his participation in the Bank.

In his statement, Mr. Psaltis states:

“Today’s development is a historic milestone in the long course of our Bank. Alpha Bank, the historically private Bank of Greece and the one with the largest shareholder base, is once again becoming 100% private, with the entry of a first-line strategic investor. I thank the Management of the HFSF, the Fund’s Advisors, the people of Alpha Bank and UniCredit who worked intensively on the implementation of this important strategic agreement, and everyone who contributed in their way so that we could open this important new chapter in the history of Alpha Bank. I am sure that today’s development creates significant opportunities for further development and value creation for our Bank, but above all, it will bring multiple benefits to the banking system and the economy of our country.”

The Financial Stability Fund proceeded today to accept the binding offer of UniCredit for the acquisition of the entire participation of the Fund, amounting to 8.9781%, in Alpha Bank.

Thus, the first full privatization in the domestic banking sector with the participation of a new investor is completed in the context of the disinvestment of the HFSF and Alpha Bank becomes the only Greek Bank with the participation of a strategic partner in its share capital.

The redemption of the HFSF rate in Alpha Bank from UniCredit is the first investment by a major European banking group in a Greek Bank in 17 years, marking a return to normality after the financial crisis of the last decade.

As noted in a related announcement, Alpha Bank is the culmination of the long-term and painstaking effort for the consolidation and transformation of Alpha Bank, but also of the positive course of the Greek economy. It also creates a further favorable environment for the complete privatization of the remaining Greek systemic banks, by attracting high-quality investors.

At the same time, the transfer of the HFSF percentage to UniCredit acts as a growth catalyst for Alpha Bank, as the Italian Group’s dynamism and high expertise, combined with the support of long-term institutional investors who have already invested in the Bank’s prospects, spectacularly improves the potential for further value creation for the Shareholders, the customers, the Bank’s staff, as well as for the Greek economy.

The acquisition of the percentage held by the HFSF in Alpha Bank by UniCredit is one of the three pillars of the strategic cooperation announced three weeks ago by the heads of the two Groups. Also planned is the merger of their subsidiaries in Romania, through which the 3rd largest Bank in the Romanian market will be created, and the commercial cooperation through a joint venture for the distribution of portfolio management and life insurance products.

Thus, the first full privatization in the domestic banking sector with the participation of a new investor is completed in the context of the disinvestment of the HFSF and Alpha Bank becomes the only Greek Bank with the participation of a strategic partner in its share capital.

The buyout of the HFSF interest in Alpha Bank by UniCredit it is the first investment by a major European banking group in a Greek Bank in 17 years, marking a return to normality after the financial crisis of the past decade.

As Alpha Bank reports, is the culmination of the long-term and painstaking effort for the consolidation and transformation of Alpha Bank, but also of the positive course of the Greek economy. It also creates a further favorable environment for the complete privatization of the remaining Greek systemic banks, by attracting high-quality investors.

At the same time, the transfer of the HFSF stake to UniCredit acts as a growth catalyst for Alpha Bank, as the dynamics and high expertise of the Italian Group, combined with the support of long-term institutional investors who have already invested in the Bank’s prospects, improve spectacularly the possibilities of further value creation for the Shareholders, customers, staff of the Bank, as well as for the Greek economy.

UniCredit’s acquisition of the share held by the HFSF in Alpha Bank is one of the three pillars of the strategic cooperation announced three weeks ago by the heads of the two Groups. Also planned is the merger of their subsidiaries in Romania, through which the 3rd largest Bank in the Romanian market will be created, and the commercial cooperation through a joint venture for the distribution of portfolio management and life insurance products.