Aspis ups bid for Universal Bank to EUR 3.50

Aspis Pronoia AEGA and Commercial Value have revised the public offer made to the shareholders of Universal Bank Public Limited to CYP 2.037 or EUR 3.50 per share from CYP1.36 (EUR2.35) per share in cash.

The bid is subject to Aspis and Commercial Value securing a minimum 20% and a maximum 50% plus 1 share of the share capital of Universal Bank Public. The remaining approvals have been secured fully. Specifically, the companies have secured the approvals of the Central Bank of Cyprus, the Commission for the Protection of Competition and the Greek Development Ministry. Sharelink Securities and Financial Services Limited are acting as a consultant of the Offerors.