UniCredit had announced on Oct. 23 that it would become Alpha Bank's largest shareholder by purchasing a 9 percent stake owned by Hfsf. Also part of the deal is an agreement to purchase most of Alpha's Romanian assets for 300 million euros.

"UniCredit purchased all the shares at a price of 1.39 euros per share, which represents a 9.4 percent premium to the closing price of the shares on the Athens Stock Exchange on Oct. 20," the fund said in a press release.

In a separate note, UniCredit confirmed its purchase of the stake -- amounting to 8.9781 percent -- pointing out that compared to Friday's closing price on the Athens Stock Exchange, the price represents a discount of 0.4 percent.

Under the leadership of CEO Andrea Orcel, former head of investment banking at Ubs, UniCredit is working to rebuild fee-generating activities, which it had reduced during the crisis years to strengthen capital.

Greece attracted significant investment as the economy strengthened after the crisis, prompting S&P Global to upgrade the country to 'investment grade' in October.

Hfsf sold its 1.4 percent stake in Eurobank last month and is expected to divest about 20 percent of National Bank in the coming days.

Over a decade, the fund has taken stakes in the four largest banks, injecting about 50 billion euros, to recapitalize them during the country's financial crisis.

Lazard Frères has been the fund's 'disposal adviser' and Rothschild & Co the 'divestment strategy adviser'.

The U.K. branch of the U.S. firm Skadden, Arps, Slate, Meagher & Flom and Greece's Kyriakides Georgopoulos were Hfsf's external legal advisers.

(Translated by Chiara Scarciglia, in editing Sabina Suzzi, editing Claudia Cristoferi)