July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to be completed with their legal merger by November 2019. Associated Motor Finance said in a stock exchange filing that they are not able to inform the shareholders as to the “Consideration” that would be offered by AFC to the shareholders of AMF since the valuations have not yet reached a final stage. The Board of AMF, however, said that the ‘Consideration” will be in the form of an issue of new shares in AFC to the shareholders of AMF by way of a private Placement. Both Boards of AMF and AFC have resolved based on their preliminary evaluations that post-amalgamation, the Associated Motor Finance shall cease to exist.
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