Two major moves in the business arena have been announced for Greece, confirming that the country is now attracting strategic partners. On the one hand, the cooperation of LAMDA Development With the international group ION For the creation of an International Center for Research and Innovation in Elliniko, an investment exceeding € 1.5 billion. On the other hand, Unicredit, which boosts its position in Alpha Bank, raising its participation to 26%.
In particular, the binding offer by the ION Group, a leading Financial Services Technology Company, for the development of an International Center for Research and Innovation within the Hellenic project, has announced that it has accepted Lamda Development. It is a strategic transaction of € 450m, with a total investment size estimated to exceed € 1.5 billion during growth, by 2030.
The new center will be developed in two distinct areas of Elliniko and will cover a total maximum permissible construction of approximately 250 mm. It will include at least 50 mm. Office spaces, 1,000 seats designed for international events, as well as up to 200 mm sq.m. Residential developments for the housing of about 2,000 professionals from 44 countries.
In addition, the ION Group, as announced, will acquire 2% in Lamda Development, which reflects its commitment and confidence in the work of Hellenic. This collaboration marks the beginning of the creation of the Hellenic Business Center, which is a key part of Masterplan, and highlights The Ellinikon at a European Node of Artificial Intelligence and Digital Transformation.
The founder and CEO of the Ion Andrea Pignataro Group, in statements, pointed out that the size, infrastructure and vision of the Greek are in line with the vision of the ION Group to combine technology, culture and lifestyle in an innovative model for the future of work and education in Greece. We envision this center to function, at the same time, as a workplace and education, but always retaining the characteristics of the neighborhood, making Athens a European lighthouse of technology and creativity, he said.
For his part, Lamda Development Managing Director Odysseas Athanasiou emphasized that this iconic agreement reinforces The Ellinikon’s image as a world -level destination and top investment hub, which attracts international partnerships and top investors. It is also the new model for the future of modern cities and the model to hear our country’s name in the international environment in a positive way.
ION provides critical software, data and services in top financial institutions, central banks, governments and world companies. With the center of Elliniko, Athens reinforces its role as a hub of technology and innovation.
The man behind the Ion group
Andrea Pignataro, born in Italy, is the founder and CEO of the ION Group. According to Forbes, he founded the company in 1998 while working as a trader in Salomon Brothers. Today, Ion Group, based in London, is one of the most recognized companies in the field of financial data and technology, with net assets of $ 27 billion in 2023.
The Group has an extensive portfolio of companies, from the Dealogic Financial Platform to FDESSA Software Company, and is organized into five key categories: purchases, details, basic banking, corporate solutions and credit information.
His presence in the work of Hellenic, through ION, has not only a business but also a symbolic dimension. It connects Athens with the elite of international investors seeing in Greece a place of development and innovation.
Unicredit further enhances its presence in Alpha Bank
The second major news concerns the banking industry. Unicredit is increasing its involvement in Alpha Bank by about 5%, raising its overall rate to about 26%. This is a development that is part of the Italian Bank’s supervisory approvals so that it can reach up to 29.99% of Alpha Bank’s share capital.
This increase is not a mere investment move. It is noted that it reflects the strategic importance of UNICREDIT to collaborate with Alpha Bank and its confidence in the prospects of the Greek economy. The collaboration between the two groups, which began less than two years ago, has evolved into one of the most dynamic pillars of development, creating synergies in Asset & Wealth Management, Transaction Banking, Trade Finance, Advisory, International Conserial Loans and Bancassurance.
Unicredit CEO Andrea Orcel stressed that the bank’s investment in Alpha Bank has paid far beyond expectations and continues to be a key field of development for the Unicredit Group. Strong and mutually beneficial cooperation has benefited our customers, shareholders and people equally, and the best are in front of us, he said.
On the Alpha Bank side, CEO Vasilis Psaltis said that Unicredit’s decision to further increase its participation in Alpha Bank is a development that is a tangible confirmation of the tangible results of this strategic cooperation, and a strong vote of confidence in Alpha Bank’s prospects.
Unicredit has already applied for license by the supervisory authorities to reach 29.99% for Alpha Bank. Completion of the process will allow it to unify almost one -third of the net profits of the Hellenic Bank in its own results, signaling even closer strategic connection. At the same time, Alpha Bank is launching a € 211m stock repurchase program for 2024, underlining its strong capital position and a commitment to creating value for shareholders.
Two news, a common message
Whether it is the work of Elliniko, which is the largest urban redevelopment project in Europe with more than 40 in full swing sites or the banking sector and one of the 4 powerful systemic banks, the two news sends the same message: Greece is now on the map of major international investors.
Lamda Development, in collaboration with the ION Group, makes Athens a technology hub, while Alpha Bank with Unicredit’s confidence confirms the country’s upgraded role in the European financial space. In both cases, as financial analysts have pointed out, the key is confidence in companies, the national economy, and in the prospects.