Alpha Bank: The price for the acquisition of AstroBank is 'no less than €205 million'

Alpha Services and Holdings S.A. has announced "the execution of the definitive Business Transfer Agreement for the acquisition of substantially all of AstroBank’s assets and liabilities."

It said, among other things, that the purchase price at the completion of the transaction "is estimated at no less than €205 million."

The completion, it added, "remains subject to the satisfaction of customary conditions precedent, including the obtaining of all necessary regulatory approvals and consents, and is anticipated within the fourth quarter of 2025."

Alpha Services and Holdings S.A.'s full announcement can be seen below:

Alpha Services and Holdings S.A. announces the execution of the definitive Business Transfer Agreement for the acquisition of substantially all of AstroBank’s assets and liabilities

Alpha Services and Holdings S.A. (“Alpha Holdings”) announces that its indirect wholly-owned subsidiary Alpha Bank Cyprus Ltd (“Alpha Bank Cyprus”) has entered into the definitive Business Transfer Agreement with AstroBank Public Company Limited (“AstroBank”) for the acquisition of substantially the whole of AstroBank’s assets, liabilities and personnel (the “Transaction”).

This milestone follows the agreement on the Transaction’s key commercial and legal terms announced on February 27, 2025.

The Transaction is fully aligned with Alpha Holdings’ strategic objective of strengthening its market presence and financial position in Cyprus. Following the completion of the Transaction, Alpha Bank Cyprus is expected to consolidate its position as the third-largest bank in Cyprus, delivering a material increase in its recurring profitability. In particular, as previously communicated on February 27, 2025, the Transaction is expected to be circa 5% accretive to Alpha Holdings’ Earnings Per Share (EPS) on a fully phased-in synergies basis while it will have a limited impact of approximately 40 basis points on Alpha Holdings’ Common Equity Tier (CET) 1 ratio.

The purchase price at the completion of the Transaction (the “Completion”) is estimated at no less than Euro 205 million. The Completion remains subject to the satisfaction of customary conditions precedent, including the obtaining of all necessary regulatory approvals and consents, and is anticipated within the fourth quarter of 2025.

Also read: Agreement signed for AstroBank sale to Alpha Bank Group