Merger agreement between Everest and Lumbini General Insurance, swap ratio 100:80

Jul Fri 2022 02:04:11

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Merger agreement between Everest and Lumbini General Insurance, swap ratio 100:80

Kathmandu. Sagarmatha Insurance and Lumbini General Insurance have signed a Memorandum of Understanding (MoU) to merge. The two insurers have agreed to receive and pay in the ratio of 100:80. "The agreement is in the ratio of 100:80," said Lumbini General Insurance.

In other words, after the merger, the shareholders who have 100 shares of Lumbini General will get 80 shares of Sagarmatha Insurance. Similarly, the name, CEO and chairman of the merged company are yet to be decided.

At present, the paid up capital of Sagarmatha Insurance is Rs 1.33 billion. Similarly, Lumbini General Insurance has Rs 1.31 billion. After the merger in the swap ratio of 100:80, the paid up capital of the company will reach Rs 2.38 billion.