According to market evaluations based on public data, quoted by Ziarul Financiar, the multiple used in the evaluation of Alpha Bank for the recent merger with UniCredit was 1.2-1.3 times its net assets, which would result in a valuation of EUR 500 million-550 million.

Alpha Bank is expected to retain 9.9% of the combined entity share capital and receive a cash consideration of EUR 300 million (subject to post-due diligence adjustments) under the deal.

Investment bank JPMorgan was the consultant of the most surprising transaction on the Romanian banking market recently, the merger between UniCredit (7th place) and Alpha Bank (9th place), which will create the third bank in Romania.

JPMorgan was the exclusive adviser to Alpha Bank, according to the presentation material of the transaction.

iulian@romania-insider.com

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