Aspis Pronoia AEGA and Commercial Value, associated companies of Aspis Group, have not given up their ‘fight’ for the acquisition of Universal Bank. Via a letter released by the CSE today, the two companies described the procedures that the Board of Directors of Universal Life followed after their offer and the latter’s decision to stop the business pursuits of Aspis Group.

In the announcement, Egnatia Managing Director, Marios Hadjiyiannakis said that his customers, Aspis AEGA and Commercial Value, intend to submit a Public Offer document, pursuant to the CSE Regulations.

Egnatia’s announcement on behalf of Aspis and Commercial Value boosts the scenarios that the Greek Group will not quit. UL’s report that the acquisition of the majority stake by the two Greek companies is not in line with the strategic targets of Universal Group was not an obstacle to the plans of Aspis Group, which is interested in expensing in Cyprus.