United Finance formed merger committee; Nabil to acquire three different companies

Kathmandu, April 18

United Finance Ltd., which is preparing to merge with Nabil Bank, has formed a merger committee. A two-member merger committee has been formed under the coordination of Finance Director Beni Gopal Mundada.

Another director Manish Khemka has been appointed as a member of the committee. Khemka is also the executive director of Bhuramal Lunkarandas Conglomerate Holdings under the Chaudhary Group, which has been investing in various sectors.

According to the source, a two-member merger committee will finalize the merger with Nabil in a few days. “A lot of preparations have been made for a preliminary agreement with Nabil, now the merger committee will formally finalize everything.”

According to a source, the agreement will be signed by Nabil Bank to acquire United Finance by Baisakh.

Nabil bank is preparing to acquire another commercial bank and development bank along with United Finance. Sources claim that the agreement to acquire United Finance has to be signed in the last week of Chaitra, but the time has been extended due to the effort of other institutions to reach an agreement in acquisition.