On November 4, 2024, Clifford Chance announced that Alpha Bank Group and Alpha Bank Romania's sale of 90.1% of Alpha Bank Romania to UniCredit (as reported by CEE Legal Matters on November 16, 2023) has closed.
According to Clifford Chance, "the transaction has been cleared by the European Commission and was subject to, among others, approval by the National Bank of Romania and FDI clearance in Romania."
As previously reported, Koutalidis has advised Alpha Bank on its partnership with UniCredit in Greece and Romania. Clifford Chance Badea advised Alpha Bank Group and Alpha Bank Romania on all Romanian aspects of the deal. Kyriakides Georgopoulos announced it had advised the Hellenic Financial Stability Fund on the disposal of its 8.9781% stake in Alpha Services and Holdings SA to UniCredit.
According to Koutalidis, the 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 the acquisition by UniCredit from the Hellenic Financial Stability Fund of all the shares that HFSF held in Alpha Services and Holdings, namely a stake of 8.9781%.”
The Koutalidis team included Partners Nikos Salakas and Effie Papoutsi.
The Clifford Chance team included Managing Partner Daniel Badea, Partner Madalina Rachieru-Postolache, Of Counsel Eleonora Udroiu, Counsel Loredana Ralea, Senior Associates Radu Costin, Ecaterina Burlacu, Gabriel Toma, and Sabina Crangasu, and Associates Filip Marinau, Roxana Barboi, and Laura Costea.
The Kyriakides Georgopoulos' team included Partners Konstantinos Vouterakos, Ioanna Antonopoulou, and Apostolos Georgantas and Associates Marianna Katsifi and Athanasios Misirlis.
