Businessman, media publisher and chairman of the Confederation of Employers and Industrialists in Bulgaria Ivo Prokopiev bought International Private Bank of Skopje to add it to the list of companies owned by him, mediapool.bg said on October 31.

The acquisition deal for 98.29 per cent of the capital of the Macedonian bank by Alpha Finance Holding was completed, the holding said in a statement, as quoted by mediapool.bg. Prokopiev is the major stakeholder in Alpha Finance. Macedonian media reports suggested eight million euro was the acquisition price for the bank in Skopje, although no official confirmation was made.

The new owner planned to restructure the bank, make considerable investments in new technologies and human resource, as well as to expand the current client base and scope of services. The goal was to achieve a better operating efficiency and market share growth through the introduction of the best practises in European banking and the launch of new banking products, mediapool.bg said.

Alpha Finance Holding operated in the field of financial services, real estate and industrial minerals. The company had invested in logistics, construction and telecommunications.