Alpha Services and Holdings announced that Alpha International Holdings Sole Proprietorship SA (ADS) entered into an agreement with OTP Bank regarding the acquisition of 100% of the share capital of Alpha Bank Albania by OTP.
According to the announcement, the price has been agreed at 55 million euros, which corresponds to 0.74x times the P / BV.
“The transaction has a positive effect on the Group’s funds and is fully in line with the Group’s commitment to focus on its core markets,” the statement said, adding: (including obtaining supervisory approvals under current legislation) is expected to take place within 2022.
The transaction will create a strong banking group with a leading position in Albania and a market share of about 11% in terms of assets, thus continuing Alpha Bank’s successful presence in the Albanian market and also securing the interests of the Group’s customer base. in Albania”.
Rothschild & Co and UniCredit Group acted as financial advisors to the transaction, while White & Case LLP and Kalo & Associates Law Firm acted as legal advisers for English and Albanian law respectively.
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Source From: Capital
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