Clifford Chance Badea advised Alpha Bank Group in closing the sale to Unicredit of 90,1% of the shares in Alpha Bank Romania S.A.

The transaction has been cleared by the European Commission and was subject to, among others, approval by the National Bank of Romania and FDI clearance in Romania.

The complexity of the transaction involving two large banks in Romania required a significant cross-practice legal effort. The Clifford Chance Badea team was coordinated by Daniel Badea, Managing Partner, and Counsel Loredana Ralea, with major contributions from Mădălina Rachieru-Postolache (Partner), Eleonora Udroiu (Of-Counsel), Radu Costin (Senior Associate), Ecaterina Burlacu (Senior Associate), Gabriel Toma (Senior Associate), Sabina Crângașu (Senior Associate), Filip Marinău (Associate), Roxana Bărboi (Associate), and Laura Costea (Associate). 

Daniel Badea, Clifford Chance Badea Managing Partner, says: "Our office has a long and successful track record of working with both Alpha Bank and Unicredit Bank, two high profile banking institutions that have greatly supported Romania's economic advancement over the past decades. We are honored to stand by them during such a landmark moment in their history."

Counsel Loredana Ralea adds: "This was, to some extent, an unprecedented transaction for the Romanian banking industry, due to its complex structure that required several workstreams running in parallel, and their perfect synchronization. Our extensive expertise in financial sector transactions has proven essential at every stage. We are happy to have worked closely and efficiently with all parties involved, so as to carry one of the largest transactions in the Romanian banking industry to a successful closing, within a rather ambitious timeframe considering the scale of the deal."