The
central bank has given a green signal for the merger of Butwal Finance, CMB
Finance and Alpic Everest Finance.
They are going to merge into a single entity Synergy Finance Company that will have a paid-up capital of Rs 474.4 million. It is going to start its operations as Synergy Finance from next month.
“Promoters of Butwal Finance will have majority stake of around 49 per cent, whereas current CMB investors have around 26 per cent and Alpic promoters will have around 25 per cent stake in Synergy Finance.
Under the agreement, a shareholder with 100 shares in Butwal Finance will get 120 shares in Synergy Finance, where a shareholder with 100 shares of Alpic will get 110 shares. Likewise, a shareholder with 100 shares of CMB will get 88 shares in the merged unit.
Synergy Finance will be led by chief executive of CMB Finance Rajendra Man Shakya, who is incumbent president of Nepal Finance Companies Association (NFCA).
They are going to merge into a single entity Synergy Finance Company that will have a paid-up capital of Rs 474.4 million. It is going to start its operations as Synergy Finance from next month.
“Promoters of Butwal Finance will have majority stake of around 49 per cent, whereas current CMB investors have around 26 per cent and Alpic promoters will have around 25 per cent stake in Synergy Finance.
Under the agreement, a shareholder with 100 shares in Butwal Finance will get 120 shares in Synergy Finance, where a shareholder with 100 shares of Alpic will get 110 shares. Likewise, a shareholder with 100 shares of CMB will get 88 shares in the merged unit.
Synergy Finance will be led by chief executive of CMB Finance Rajendra Man Shakya, who is incumbent president of Nepal Finance Companies Association (NFCA).
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