United Finance Limited will be acquired by Nabil Bank Limited (NABIL) (UFL). On Friday, the bank and United Finance signed a Memorandum of Understanding for the acquisition. The agreement was signed by Uday Krishna Upadhyay, merger coordinator for Nabil Bank, and Manish Khemka, merger coordinator for United Finance.
The swap ratio has been set unofficially at 1:0.35. This means that after the acquisition, every 100 United Finance shares will be converted into 35 Nabil Bank shares. This is Nabil Bank’s first merger/acquisition.
Nabil Bank and United Finance are both owned by the Chaudhary Group.