In this context, Alpha Bank, after taking into account the intentions of the investment schemes participating in the Skyline Transaction, announced that it will begin the process of transforming the latter into a company with the sole purpose of providing management and real estate services. This development excludes - at this stage - the transformation Alpha Astika Akinita into a REIC as it was estimated that "it does not have a sufficient size to face competition of pan-European level".
It is been reminded that offers have been submitted by Invel - Prodea, Dimand - HIG, Davidson Kempner and Brook Lane.
In particular, the Transformation of Alpha Urban Real Estate will include the sale and transfer of its real estate portfolio to a company of the "Alpha Services and Holdings A.E." Group. which will be the body for the Skyline Transaction consortium.
