Alpha Services and Holdings S.A. (parent company of Alpha Bank Group, the 'Group') recently announced that Alpha International Holdings Single Member S.A. ('AIH'), a fully owned subsidiary of the Group, has entered into a binding agreement with OTP Bank Plc in relation to the acquisition of Alpha Bank Albania SHA by the latter.

The consideration has been agreed at EUR 55 million, representing a 0.74x P/BV multiple.

UniCredit and Rothschild & Co are acting as financial advisers in relation to the transaction, while White & Case LLP is acting as international legal adviser and Kalo & Associates as legal adviser on Albanian law issues.

Completion of the transaction, subject to the satisfaction of certain conditions precedent (including obtaining regulatory approvals under applicable law), is expected to take place within 2022.

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UniCredit S.p.A. published this content on 21 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2021 10:19:05 UTC.