Aspis improves bid offer for Universal Bank

Aspis SA of Greece together with its associate company, Commercial Value SA of Greece have submitted an improved offer seeking minimum 20% and maximum 50% plus one share of Universal Bank Pcl (USB).

Aspis and Commercial Value improved their public offer to CYP 1.10 or EUR 1.90 per share from their previous offer of CYP 0.95 or EUR 1.65 per share, which was flatly rejected by the Board of Universal Bank.