Eurobank Ergasias €664 million acquisition of Alpha Bank Bulgaria

Overview:

• Eurobank Ergasias has acquired the Bulgarian operations of fellow Greek bank Alpha Bank via its subsidiary Postbank.
• The deal is part of the EU ratified restructuring plan of Alpha Bank.
• The transaction includes deposits worth €254 million, loans worth €410 million and a network of 83 retail branches.
• The deal is the first time a Bulgarian banking business has been transferred as a going concern.

Sam Duke - Editor