Alpha Bank announced an agreement for the sale of 90.1% of Alpha Bank Romania to UniCredit and the subsequent merger of Alpha Bank Romania with UniCredit Bank. 

In particular, the announcement states:

Alpha Services and Holdings S.A. ("Alpha Holdings"), the wholly owned parent company of Alpha Bank S.A. ("Alpha Bank"), announces that its wholly owned subsidiary, Alpha International Holdings S.M.S.A. ("AIH"), has entered into a binding agreement with UniCredit S.p.A. ("UniCredit") for the sale of 90.1% of Alpha Bank Romania S.A. ("Alpha Romania") to UniCredit (the "Transaction") and the subsequent merger of the two parties' subsidiaries in Romania.

The transaction forms part of the strategic partnership between Alpha Holdings and UniCredit, which was announced on October 23, 2023. Under the terms and conditions of the transaction, UniCredit will acquire from AIH 90.1% of the share capital of Alpha Romania in exchange for (i) 9.9% of the share capital of UniCredit Bank S.A. ("UniCredit Romania") and (ii) €256 million in cash.

Upon completion of the transaction, which is subject to all applicable regulatory approvals and consents, AIH will own 9.9% of Alpha Romania and UniCredit Romania. In addition, the transaction, which increases the capital adequacy ratio for Alpha Bank by approximately 100 basis points, is expected to be completed by the end of 2024.  Upon completion of the transaction, Alpha Romania will merge with UniCredit Romania, forming a single banking entity in which AIH will hold 9.9%.