Aarambha Chautari Laghubitta Dissolves Previous Merger Agreement; Signs acquisition MoU with Two Other Companies

Aarambha Chautari Laghubitta Bittiya Sanstha Limited (ACLBSL) has dismissed the merger agreement with CYC Nepal Laghubitta and Shaligram Laghubitta.

Aarambha Chautari Laghubitta Bittiya Sanstha Limited (ACLBSL), CYC Nepal Laghubitta (CYC), and Shaligram Laghubitta (SHALIGRAM) had signed an MoU for the merger. The chairman of the three companies had signed a tri-party agreement with each other. However, since the companies have different stances about taking other companies along for merger/acquisition, the agreement is now dismissed.

Thus, Aarambha Chautari Laghubitta Bittiya Sanstha Limited (ACLBSL)'s trading was halted from Ashwin 11 of this year. Now, Nepal Rastra Bank has issued a notice stating that the shares are no longer needed to be halted since the agreement is now dissolved.

Meanwhile, Aarambha Chautari Laghubitta has signed an MoU to acquire BPW Laghubitta and Deurali Laghubitta. BPW Laghubitta has its operational region in Bagmati Province while Deurali Laghubitta has its operational region in Lumbini Province. Chairman Jagat Bahadur Pokharel signed the MoU on Poush 13 on behalf of Aarambha Chautari Laghubitta.