Central Bank Approves Infinity Laghubitta's Acquisition of Nepal Agro Laghubitta

Nepal Agro Laghubitta Bittiya Sanstha Limited (NAGRO) will now be acquired by Infinity Laghubitta Bittiya Sanstha Limited (ILBS). Nepal Rastra Bank has now approved the acquisition proposal endorsed by both the companies' respective AGM. The central bank gave the approval on Jestha 11.

The trading of NAGRO was halted in NEPSE because the company had signed a Memorandum of Understanding (MoU) for merger and acquisition with NESDO Sambridha Laghubitta. However, Infinity Laghubitta Bittiya Sanstha Limited (ILBS) unveiled a notice stating that it has signed an acquisition agreement with Nepal Agro Laghubitta in which the former will acquire the latter.

The acquisition agreement was signed on Magh 26 by Mr. Balram Bista representing ILBS and Mr. Bibek Shrestha representing NAGRO. NAGRO is a microfinance company with its central office in Bindhyabasini, Pokhara - 18, Kaski. The company has an operational area of 10 districts.