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EC approves UniCredit's acquisition of Alpha Bank Romania

Jun 12, 2024, 5:37:00 PMArticle by Alexandru Cristea
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June 12 (SeeNews) - The European Commission (EC) said on Wednesday that it has approved the acquisition of the Romanian subsidiary of Greece's Alpha Bank by Italy's UniCredit.

EC approves UniCredit's acquisition of Alpha Bank Romania
Author: SeeNews. License: All rights reserved.

The Commission analysed and authorised the deal under the EU Merger Regulation, concluding that the transaction would not negatively affect competition given the limited combined market position resulting from the proposed deal, it said in a statement.

Last year, UniCredit Romania said it would merge with Alpha Bank Romania, creating the third largest bank in the country. Alpha Bank would retain a 9.9% stake in the merged entity and receive a cash payment of 300 million euro ($322.5 million), potentially adjusted based on asset quality assessments from the due diligence process, UniCredit said back then.

($=0.9302 euro)

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