The Hellenic Financial Stability Fund (HFSF) launched a formal sale process for the disposal of its entire stake in the share capital of Alpha Services and Holdings S.A.
In an announcement, HFSF said that on 23 October 2023, it received a binding offer from UniCredit S.p.A. for the acquisition of its entire stake in Alpha Services and Holdings S.A., namely 211,138,299 common registered shares, corresponding to 8.9781% of Alpha’s paid-up share capital and voting rights at a price per Share of 1.33 euros.
HFSF welcomed this offer, which accompanied a broader strategic agreement between Alpha and UniCredit. In line with the founding law of the HFSF and as part of the HFSF divestment strategy, the Board of HFSF has resolved to announce its intention to initiate the process of disposing of the Shares through a competitive sale process. The process commenced at 10:30 am (Athens time) on October 30, 2023, with offers due by 5:30 pm (Athens time) on November 10, 2023.
HFSF has appointed Lazard Frères SAS, to act as an advisor. Lazard, acting in such capacity, will conduct the bidding process. Interested investors should contact Lazard directly, using the contact details proed below in order to receive the relevant eligibility criteria and information to participate in the competitive process. In order to be an eligible offer, interested investors should note that HFSF will only consider offers on the basis that the offer is for all of the shares, no due diligence will be offered by HFSF or Alpha.
UniCredit may participate in the competitive process while any offer by an eligible investor must be higher than the UniCredit offer. The completion of the sale of the shares remains subject to the approval of the Board of HFSF.The results of the competitive process are expected to be announced by no later than two (2) hours prior to the opening of trade on November 13, 2023.
