Alpha Bank – Ιt will pursue strategic partner to acquire majority stake in its domestic real estate subsidiary

Greek lender Alpha Bank this week announced its intention to pursue a joint venture with an “international strategic partner” that will focus and invest in the domestic real estate market, a business proposals it bills as “Project Tomorrow”.

ATHEX-listed Alpha Bank said it has commenced a process to select such a strategic partner for the joint venture, which will be partnered with its listed subsidiary, Alpha Astika Akinita S.A.
Ostensibly, Alpha Bank will select from a corporate entity that will show an interest and pursue such a partnership.

Alpha Bank said the selected joint venture partner will acquire a controlling stake in the company and contribute its business plan, while Alpha Bank intends to retain a minority stake in the joint venture.