A tender process for a 9-percent stake in Alpha Bank, one of four systemic banks in Greece, has concluded on Friday, with Italy-based UniCredit reportedly the sole candidate for acquiring the share package.
UniCredit has officially expressed an interest in acquiring the ATHEX-listed bank’s stake through a process initiated by the Hellenic Financial Stability Fund (HSFS), which holds the shares.
HSFS is a memorandum-mandated (2010) independent entity created to maintain and ensure stability in Greece’s banking system, in the wake of the country’s first institutional bailout.
Sources cited French financial adviser Lazard, a consultant in the process, as saying UniCredit was the only candidate. The same sources said HSFS may request an improved offer from the Italian banking group, which previously offered 1.33 euros per share to acquire 9 percent of Alpha Bank.
An official announcement will come on Monday, Nov. 13, before the opening of trading on the Athens Stock Exchange (ATHEX).
In the wake of the Alpha Bank sale process, media reports in Athens also cited the prospect of HSFS putting half of its shares in National Bank of Greece (NBG) on the selling block, or 20 percent of NBG’s total share capital.
One oft-quoted scenario cites a NBG selloff of 15 percent of the credit institution’s shares through an offer book process, with 5 percent floated on ATHEX for acquisition by private investors – and with current shareholders given priority.
Latest News
Deadline for Postal Vote Registration Expires on Mon.
More than 157,000 Greek citizens had registered on the relevant online platform so far
Orthodox Palm Sunday Today; Shops Open in Greater Athens-Piraeus Area
Orthodox Holy Week begins on Monday, April 29, and ends on Sunday, Easter Sunday or Great and Holy Pascha (May 5)
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%