'A' Level Com Bank to Acquire Hathway Finance

Mar 15, 2019 Merolagani

Hathway Finance (HATH) is being acquired by an 'A' level commercial bank. Formerly Arun Finance, the company was renewed by Hathway Group under the name of Hathway Finance.

As per the source, Hathway Finance is being acquired by Global IME Bank (GBIME). Both financial institutions signed an agreement paper regarding the acquisition on March 14.

Sundar Krishna Shrestha, conveyor of merger committee and director of Global IME Bank and Nawaraj Nepal, conveyor of merger committee and director of Hathway Finance signed the agreement paper amid a program.

The companies informed that the swap ratio will be decided as per DDA report.

Presently, Global IME has a paid-up capital of Rs 10.31 billion while Hathway Finance has a paid-up capital of Rs 300 million.


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