DEG to re-enter into Pakistani market by acquiring 20% stake of TPL Insurance Ltd

News Image

By MG News | June 23, 2020 at 10:33 AM GMT+05:00

0:00

June 23, 2020 (MLN): TPL Insurance Limited, a subsidiary of TPL Corp Limited, has informed via notice to Exchange that DEG –Deutsche Investitions-und Entwicklungsgesellschaft mbH (“DEG”), has expressed its interest in acquiring 20% stake in the Company.

DEG –Deutsche Investitions-und Entwicklungsgesellschaft mbH (“DEG”), is a wholly owned subsidiary of KfW Group, a major development finance institution based in Cologne, Germany.

The transaction shall be executed subject to approval of the Board of Directors’, Shareholders’, Securities and Exchange Commission of Pakistan and other regulatory bodies, as per the notification.

DEG is re-entering into the Pakistani market with the investment being a first, in an insurance company by a Development Finance Institution in recent times in Pakistan.

With the experience and expertise of DEG as a major institutional investor, the Company will greatly benefit in terms of custom shaped solutions in all respectable areas including but not limited to best corporate governance practices, business support, risk management and environmental and social matters, notification said.

 Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,285.00 110,525.00
110,055.00
-130.00
-0.12%
BRENT CRUDE 68.79 68.89
68.71
-0.01
-0.01%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.08 67.18
66.99
0.08
0.12%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 04, 2025 at 06:09 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 03, 2025 at 10:04 PM GMT+05:00

SBP reserves rise around to $13bn


July 03, 2025 at 05:39 PM GMT+05:00

Gold price in Pakistan rises Rs800 per tola


July 03, 2025 at 05:17 PM GMT+05:00

Microsoft exits Pakistan after 25 years


July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg