Dutch investment firm Reggeborgh has sold its entire 9.75% stake in Alpha Bank to three international investment banks.
UniCredit has doubled its stake in Greece’s Alpha Bank to nearly 20% subject to regulatory approval, the Italian bank said.
On the occasion of the increase in Unicredit’s shareholding in Alpha Bank, Bank of Greece Governor Yannis Stournaras made the following statement:
“The increase in Unicredit’s stake in the share capital of Alpha Bank, through the acquisition of the shares held by Reggeborgh Invest, is a very positive development for both banks, building on the excellent cooperation they have developed over the recent past.
It also reflects the significant progress of the banking sector and the Greek economy, which is also confirmed by the continuous upgrades of the Hellenic Republic and the Greek banks by international rating agencies.
This transaction shows the way forward for the European Union in the banking sector: Cross-border cooperation between sound banks, coupled with completion of the Banking Union, the Capital Markets Union and simplification of procedures, reduces European market fragmentation, creates economies of scale, improves liquidity and efficiency; this will in turn result in stronger economic growth, faster monetary policy transmission, lower prices of goods and services and, ultimately, greater economic prosperity.
Congratulations are due to Andrea Orcel, Henry Holterman, Vassilis Psaltis and their staff for their professionalism and very good cooperation with the Bank of Greece.”
