The sale of Aspis΄ Bank majority stake is on track as this week the final talks will be held with the four parties interested in the bank. The CSE listed Aspis Holdings (ASP) which passed a resolution changing its name to Advantage Capital has a 41% stake in Aspis Bank.
Reliable sources told the Financial Mirror that high level talks are also under way aimed at forging a merger between Aspis Bank and the Attica Bank in a full share swap deal. The same sources said the Bank of Greece is reported to favour a merger between the two banks, which if successful would dilute the shareholding interest of the Cyprus investors to below 10% in the combined grouping. The two banks would have about 155 branches and stand a better chance to compete with their peers.
Other Greek press reports say the Restis Group is interested to wrest control of 51% controlling stake of Aspis Bank. In that case, his intention is to merge Aspis Bank with FBBank.
It is noted that until the end of the year, Aspis will proceed with a EUR120 mln share capital increase while the general shareholders΄ meeting is expected to change the bank΄s name as well.