KARACHI: The State Bank of Pakistan (SBP) has granted TPL Corp Limited (TPL) and Abhi (Private) Limited (Abhi) its approval to commence the due diligence of FINCA Microfinance Bank Limited for the purpose of a potential acquisition by TPL along with Abhi of a majority shareholding in the Bank.
The proposed transaction will remain subject to the outcome of the due diligence, obtaining requisite internal and regulatory approvals and entering into definitive documentation, material information sent to Pakistan Stock Exchange on Tuesday said.
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