Mega, Nepal Investment ink final merger deal
KATHMANDU, NOVEMBER 29 : Mega Bank and Nepal Investment Bank have today signed a final agreement regarding their merger. As per the agreement, they will merge in the swap ratio of 100:90. This means that any shareholder of Mega, who currently has 100 shares, will own 90 shares in Nepal Investment.
They plan to coalsce and launch integrated transactions within the deadline given by Nepal Rastra Bank i.e January 6, 2023,
The two institutions had reached a preliminary understanding to coalesce on June 10. Later, Nepal Rastra Bank agreed, in principle, to allow them to merge on July 6. The new bank to be formed after the merger will be named “Nepal Investment Mega Bank”.
Prithvi Bahadur Pande will be its chair and Jyoti Pandey the Chief Executive Officer.
Its chairperson will be Prithvi Bahadur Pandey, who is currently handling the same position in Nepal Investment Bank.
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