Nabil Bank to acquire United Finance

KATHMANDU: Nabil Bank has signed an acquisition agreement with United Finance Limited.

The two companies reached an agreement to this effect on Friday. The agreement was signed by Uday Krishna Upadhyaya, coordinator of the merger committee on behalf of Nabil Bank, and Manish Khemka, member of the merger committee on behalf of United Finance.

As per the agreement, a merger and acquisition agreement has been signed to maintain the share swap ratio of 35 shares of Nabil Bank equating to 100 shares of United Finance. NABIL has an LTP of Rs. 1,270 while UFL has an LTP of Rs. 423.