TPL Corp seals Jazz International deal for Insurance subsidiary

Hafiz Muhammad Abdullah Hashim | December 17, 2025 at 12:51 PM GMT+05:00

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December 17, 2025 (MLN): TPL Corp Limited (PSX: TPL) Board of Directors granted final approval on December 17, 2025, for Jazz International Holding Limited to acquire shares and control of TPL Insurance Limited, the company's subsidiary.

The Board meeting, held at 11:00 a.m. on Tuesday, approved the Share Purchase Agreement with Jazz International Holding Limited. The transaction progresses from the in-principle approval granted in September 2025, the company's filing on PSX revealed today.

Jazz International Holding Limited emerges as the confirmed acquirer following an amendment process.

Yesterday, Arif Habib Limited, acting as Manager to the Offer, submitted an addendum on behalf of Jazz International Holding Limited, officially replacing VEON Group Holding Company Ltd and its affiliates as the acquiring entity.

The acquisition will proceed with Jazz International Holding Limited in concert with Pakistan Mobile Communications Limited.

The addendum was scheduled for publication in Business Recorder and Nawa-i-Waqt on December 17, 2025.

The initial declaration in September identified VEON Group Holding Company Ltd and/or its subsidiaries as the potential buyer.

Arif Habib Limited, serving as Manager to the Offer, issued the finalized acquirer declaration on December 16, 2025.

TPL Corp pledged to keep shareholders informed through subsequent disclosures as the transaction moves toward completion.

TPL Crop shares traded at Rs. 11.94 at the time of writing, up Rs. 0.19 or 1.62% on the Pakistan Stock Exchange.

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