The deal is part of the strategic partnership of UniCredit and Alpha Services and Holdings announced on October 23, 2023.
The acquisition marks the start of the gradual integration process of Alpha Bank Romania into UniCredit Group. The integration will end with the merger by absorption of Alpha Bank Romania S.A into UniCredit Bank S.A., expected for the second half of 2025. It will put UniCredit Group on the third place on the Romanian market, considering the two entities combined have a market share of about 12% in terms of assets.
Sergiu Oprescu, Alpha Bank Romania’s chief executive officer prior to the change in the shareholder structure, will be joining the management of UniCredit Romania in the Supervisory Board, once having secured approval from Romania’s central bank for his new role.
UniCredit appointed Antoaneta Curteanu to oversee the integration into UniCredit Romania, in her new position of Alpha Bank Romania’s chief executive officer.
(English version by Loredana Fratila-Cristescu)