Best Finance Company at final process to acquire Synergy Finance in 100% ratio; AGMs of both finances endorses proposal

Best Finance Company Limited has convened its 21st Annual General Meeting at Union House Pvt Ltd, Anamnagar on Chaitra 24, 2074 that was chaired by chairman of the finance Mr. Padma Raj Neupane. The AGM has endorsed the earlier decision to acquire Synergy Finance Ltd at an share swap ratio of 1;1.

After the merger, the paid up capital of new entity would be 89.05 crore thereby meeting the Rastra Bank’s instruction to hike paid up capital to Rs 80 crore for all national level finance companies. 

The joint entity would be named as Best Finance Company Limited whereas the main office would be located at then corporate office of Synergy Finance at Kamladi, Kathmandu. In joint terms, the new entity would have deposit collection of Rs 2.11 arba while loan disbursement figure of Rs 1.83 arba. The new institution would have 14 branches after the acquisition process.

Likewise, Synergy Finance has also endorsed to be acquired by Best Finance through its separate AGM held on the same day.