Cyprus’ Advantage Capital to sell stake in Aspis Bank to Restis Group

Advantage Capital Holdings Plc (former Aspis Holdings) announced that its subsidiary, Commercial Value SA has reached a preliminary agreement to sell its stake in Aspis Bank to the Restis Group, of Victor Restis family.
Specifically, Commercial Value SA will transfer the Rights that it holds in Aspis Bank to Restis Group for the sum of EUR65 mln. Commercial Value will reach a 20-year Bankassurance agreement with Aspis Bank.
The final agreement and its terms will be released in the next seven days and a clarification will follow. The terms of the final agreement require the approval of the competent authorities, including the Bank of Greece.