Bird & Bird has advised Hungary’s OTP Bank Group on its acquisition of the Albanian subsidiary of Greek Alpha Bank for EUR 55 million. White & Case advised Alpha Services and Holdings. Boga & Associates reportedly advised OTP as well. Kalo & Associates reportedly also advised Alpha.
According to Bird & Bird, “Alpha Bank is the eighth largest bank in Albania with a market share of nearly 5% by assets and, as a universal bank, it is active in both the retail and corporate sectors. The deal creates a leading banking group in Albania, which will hold a share of about 11% of the market based on assets.”
Bird & Bird’s team included Partner Pal Szabo, Counsel Daniel Aranyi, Senior Associates Daria Szabo and Gabor Kutai, and Associate Eszter Gal.
White & Case’s team included lawyers from the firm’s Dubai and London offices.