TPL Corp Limited has entered into a Share Purchase Agreement (SPA) with Jazz International Holding Limited for the sale of shares and transfer of control of its subsidiary, TPL Insurance Limited.
The listed company informed its stakeholders in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“This is in continuation of our earlier announcement dated December 17, 2025, regarding the approval granted by the Board of Directors of TPL Corp Limited to enter into a SPA with Jazz International Holding Limited for the acquisition of shares in, and control of TPL Insurance Limited.
“We are pleased to announce that the company has entered into a SPA with the acquirer on March 05, 2026, pursuant to which, the acquirer shall purchase shares in, and control of TPL Insurance Limited from the company,” read the notice.
The company said that the completion of the transaction remains subject to the satisfaction of certain conditions, including obtaining the requisite regulatory approvals by Jazz International Holding Limited.
On September 8, the Board of Directors of TPL Corp Limited had initially agreed to a deal where Jazz International Holding Limited would buy shares in TPL Insurance Limited and take control of it.
At first, the buyer was mentioned as VEON Group Holding Company Ltd or its related companies. Later, this was officially confirmed and changed to Jazz International Holding Limited.
TPL Corp Limited is the majority shareholder in TPL Insurance with a 52.87% stake, followed by the Finnish Fund for Industrial Cooperation Ltd with 17.02%, and Entwicklungsgesellschaft MBH with 15.87%.
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