Singer Bangladesh to merge with subsidiary company

The board of directors of Singer Bangladesh Ltd has approved the company’s merger with its 100% subsidiary International Appliance Limited (IAL).

The information was confirmed on the website of the Dhaka Stock Exchange (DSE) on Monday.

The company shall be the surviving entity as IAL will merge with the company.

The approval, however, is subject to requisite approval of the banks and other creditors to Singer Bangladesh Ltd, approval of the shareholders and sanction of the High Court.

sik/teb