Nepal Breaking NewsBusinessUnited Finance to be acquired by Nabil Bank

United Finance to be acquired by Nabil Bank

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United Finance Limited will be acquired by Nabil Bank Limited (NABIL) (UFL). On Friday, the bank and United Finance signed a of for the acquisition. The was signed by Uday Krishna Upadhyay, 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 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.

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