Latest news with #AlphaServices
Bloomberg
29-05-2025
- Business
- Bloomberg
UniCredit Pays Over €600 Million for New Alpha Bank Stake
UniCredit SpA paid slightly more than €600 million ($677 million) to double its stake in Greece's Alpha Services and Holdings SA, according to people familiar with the matter. The Italian lender announced Wednesday that it bought a stake of around 9.7% in the Greek bank, bringing its total holding to nearly 20%. The transaction cost around €615 million, the people said, requesting anonymity as the details of the deal are not public.
Wall Street Journal
28-05-2025
- Business
- Wall Street Journal
UniCredit Plans to Double Stake in Greek Bank Alpha Services to Around 20%
UniCredit UCG 1.96%increase; green up pointing triangle said it would double its stake in Greece's Alpha Services to around 20% after entering into agreements with investment banks for financial instruments representing nearly 10% of the company. The Italian bank said Wednesday that it has entered into financial contracts for an around 9.7% stake in Alpha at a share price discount to previous closing prices. UniCredit did not disclose the price paid for the instruments. Alphavalue shares closed at 2.79 euros yesterday and currently trade up 3.5% at 2.89 euros. UniCredit's stake will increase to around 20%, from a current holding of 9.6% once regulatory approval is granted, it said. The transaction will generate an additional net profit of around 180 million euros ($203.9 million) per year which it intends to return to shareholders in line with its distribution policy, it said. It will have an around 40 basis point impact on UniCredit CET1 ratio–a measure of a bank's resilience. The deal is expected to complete by the end of 2025, UniCredit said. Write to Adam Whittaker at
Bloomberg
28-05-2025
- Business
- Bloomberg
UniCredit Raises Holding in Greece's Alpha Bank to About 20%
UniCredit SpA has raised its holding in the Greek bank Alpha Services and Holdings SA to about 20% by taking out derivatives that give it control over about 9.7%, it said in a statement on Wednesday. The Italian lender also said it will apply for regulatory approval to acquire a stake in Alpha of as much as 29.9%.
