Reggeborgh, the Dutch investment firm, has divested its entire 9.75% stake in Alpha Bank to three international investment banks.
UniCredit has increased its stake in Greece’s Alpha Bank to nearly 20%, pending regulatory approval, according to the Italian bank.
In light of UniCredit’s expanded shareholding in Alpha Bank, Bank of Greece Governor Yannis Stournaras made the following remarks:
“UniCredit’s acquisition of shares from Reggeborgh Invest to enhance its stake in Alpha Bank is a highly positive development for both institutions, building on their strong cooperation in recent times.
This move also highlights the considerable advancements in the banking sector and the Greek economy, as evidenced by ongoing ratings upgrades for the Hellenic Republic and Greek banks by international credit agencies.
This transaction serves as a model for the European Union’s banking sector: fostering cross-border collaboration among robust banks, alongside the completion of the Banking Union, the Capital Markets Union, and streamlined processes, helps to reduce fragmentation in the European market, yielding economies of scale, improved liquidity, and enhanced efficiency. Ultimately, this will lead to stronger economic growth, more effective monetary policy transmission, lower prices for goods and services, and greater overall economic prosperity.
Kudos to Andrea Orcel, Henry Holterman, Vassilis Psaltis, and their teams for their professionalism and excellent collaboration with the Bank of Greece.”
