TPL Insurance receives investment draft term sheet from Finnfund

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MG News | October 26, 2021 at 05:13 PM GMT+05:00

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October 26, 2021 (MLN): TPL Insurance Limited (TPLI), a subsidiary of TPL Corp Limited, has announced that the company has received a draft term sheet in respect of the investment by the Finnish Fund for Industrial Cooperation Limited.

Finnish Fund for Industrial Cooperation Limited, a Private Limited Company incorporated in Finland, (“Finnfund”), is a major development financier and impact investor, which invests in responsible and profitable businesses in developing countries.

The draft term sheet was presented before the Board of Directors and the Board has mandated the management of the Company to negotiate the terms and revert back for approval of the transaction once the terms are finalized.

“We shall keep our shareholders updated with respect to this transaction by making further announcements as and when the transaction progresses further,” the company’s notice said.

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