Muktinath Bikas Bank Limited has decided to acquire Janaki Finance Limited and Sindhu Bikas Bank Limited. A meeting of the board of directors of all the three institutions held on September 19 decided to acquire both the institutions in Muktinath Bikas Bank.
Following the decision, a preliminary agreement was signed between Muktinath Bikas Bank, Janaki Finance and Sindhu Bikas Bank. After the initial agreement for the acquisition process, the trading of shares of the basic shareholders of all three institutions has been stopped.
Now, the necessary legal and regulatory process will be completed to proceed with the acquisition process.
