TPL Corp Limited has entered into a Share Purchase Agreement with Jazz International Holding Limited for the sale of shares and transfer of control of its subsidiary, TPL Insurance Limited, the company informed the Pakistan Stock Exchange on Thursday.
The agreement was signed on March 5, 2026, following approval by TPL Corp’s board of directors in December 2025 to proceed with the proposed transaction.
Under the terms of the deal, Jazz International will acquire shares in TPL Insurance and assume control of the company, subject to regulatory approvals and fulfillment of customary conditions.
Earlier disclosures had identified the potential buyer as VEON Group Holding Company Ltd or its affiliates. However, the acquirer has now been confirmed as Jazz International Holding Limited.
TPL Corp currently holds a 52.87 percent stake in TPL Insurance, making it the largest shareholder. Other major stakeholders include the Finnish Fund for Industrial Cooperation with a 17.02 percent shareholding and Entwicklungsgesellschaft MBH with 15.87 percent.
The transaction is expected to reshape the ownership structure of TPL Insurance once regulatory approvals are secured.
