Vijay Laghubitta breaks acquisition agreement with Cweda Laghubitta
November 17, 2019 | Investopaper
Vijay Laghubitta which was in the process of acquiring Cweda Laghubitta has broken off the acquisition agreement, as informed on Nepal Stock Exchange (NEPSE).
The board meeting of Vijay Laghubitta held on Karthik 29, 2076 has decided to cancel the acquisition with Cweda Laghubitta. The major reason is due to the dispute over the share swap ratio, as explained by the microfinance.
Both the microfinance had signed the acquisition agreement on Ashad 26, 2076 and submitted the application to Nepal Rastra Bank. The central bank had directed to conclude the acquisition process within the 3 months period.
Vijay Laghubitta has recently announced a 20 percent dividend to the shareholders.
