UniCredit strengthens its hold on Alpha Bank
UniCredit has significantly deepened its position in Alpha Bank by converting its previous exposure through financial products into ordinary shares.
Its direct stake has now risen to about 29.8%, giving the Italian group expanded voting rights and solidifying its influence within the Greek banking sector.
This latest step reinforces UniCredit’s long term strategy of increasing its footprint in Greece, where it has been gradually building its presence.
With its enlarged stake, the group now stands among Alpha Bank’s most prominent shareholders, marking a notable shift in the bank’s shareholder structure.
Further growth in UniCredit’s participation appears possible, raising the prospect of the group potentially moving toward a majority position in the future.
No changes at the management level of Alpha Bank have been signalled so far, though the development underscores UniCredit’s confidence in the bank’s long range outlook.
Alpha Bank accelerates its real estate expansion
Alpha Bank, supported by its strengthened relationship with UniCredit, has recently advanced a series of major property investments.
The bank’s leadership aims to boost the value of its real estate portfolio to €1 billion, a target that will require roughly €500 million in new investments over the coming years.
The historic Mignon asset joins Alpha Bank’s portfolio
Alpha Bank has acquired the landmark Mignon complex from Dimand through its subsidiary ABINVEST I, securing 100% of Alkanor MAE for €36.7 million.
This property consists of a 13,787 sq m mixed use bioclimatic development located near central Athens and is certified LEED Gold by USGBC.
The agreed price for the acquisition was determined through the real net asset value method, confirming the total consideration of €36.7 million.
Project Skyline continues progressing
Project Skyline’s development is also advancing, with Alpha Bank maintaining a 35% stake in the joint scheme.
Dimand holds 35.75%
Premia Properties controls 16.25%
EBRD participates with 13%
One year ago, the transfer of 460 properties worth €300 million into the venture was completed, marking a major milestone for the initiative.
Additional strategic acquisitions
Alpha Bank has also acquired a 9.87% stake in Prodea Investments, an interest valued at around €150 million.
The bank has purchased two central Athens buildings leased by the Ministry of Tourism from Prodea, transactions estimated at approximately €47 million.
Two commercial properties on Ermou Street were added to Alpha Bank’s portfolio toward the end of 2024, following their acquisition from Europe Asfalistiki.
Further additions include the Academy Gardens complex purchased from Hines, as well as a Lidl store located on Thivon.
