Aspis concludes Proton acquisition for EUR 7.8 mln

Aspis Holdings Public Company Ltd (ASP) released details of the acquisition of Proton Insurance SA, which has been finalised at EUR7.8 mln for the acquisition of 92.71% of Proton Insurance SA. Aspis will make a payment in advance of EUR 3 mln (which has been paid already). The balance of EUR4,8 mln is payable in 12 equal six-month installments of EUR400,000 each. With the completion of the acquisition, a goodwill of EUR1.2mln emerges which is subject to impairment on a yearly basis.