TPL Insurance acquisition: TPL Corp gives approval for share sale to Jazz International

The TPL Corp Limited announced on Wednesday that the board had approved the final signing of a Share Purchase Agreement (SPA) for the sale of TPL Insurance Limited, a subsidiary of the company, with Jazz International Holding Limited.

This was announced in a notice to the Pakistan Stock Exchange (PSX) today.

The notice stated that the deal was not yet fully completed and would only be finalised after receiving all necessary approvals required by law and regulators.

On September 8, the Board of Directors of TPL Corp Limited had initially agreed to a possible deal where Jazz International Holding Limited would buy shares in TPL Insurance Limited (which is a subsidiary of TPL Corp) 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.

This change was announced by Arif Habib Limited, which is managing the deal, on December 16, 2025.

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%.