TPL Corp Limited has signed a share purchase agreement with Jazz International Holding Limited to sell shares and transfer control of its subsidiary TPL Insurance Limited. The development was disclosed to the Pakistan Stock Exchange.
The agreement was signed on March 5, 2026. Earlier, the board of TPL Corp. Limited approved the transaction in December 2025. The approval allowed the company to move ahead with the proposed sale.
Under the arrangement, Jazz International Holding Limited will purchase shares in TPL Insurance Limited and take management control. However, the transaction still depends on regulatory approvals and other closing conditions.
Previously, the potential buyer was identified as VEON Group Holding Company Ltd or one of its affiliated entities. Later, the acquiring entity was confirmed as Jazz International Holding Limited.
At present, TPL Corp Limited holds a 52.87 percent stake in TPL Insurance Limited. Meanwhile, the Finnish Fund for Industrial Cooperation owns 17.02 percent of the company.
In addition, Entwicklungsgesellschaft MBH holds a 15.87 percent stake in the insurer. The remaining shares are distributed among other investors.
