TPL Corp signs share purchase deal with Jazz International to sell control of TPL Insurance

TPL Corp Limited has informed the Pakistan Stock Exchange that it has signed a share purchase agreement with Jazz International Holding Limited for the sale of shares and control of its subsidiary, TPL Insurance Limited.

In a disclosure dated March 6, 2026, the company said the agreement was executed on March 5, 2026, following a board approval that was earlier announced on December 17, 2025.

TPL Corp said the transaction remains subject to fulfilment of conditions, including obtaining required regulatory approvals and completion of the public offer process by the acquirer under the Securities Act, 2015.

The company said it will provide further updates to shareholders as the transaction progresses and requested the exchange to inform TRE certificate holders accordingly.

The transaction traces back to the company’s board meeting on December 17, 2025, when TPL Corp told PSX it had granted final approval to proceed and to enter into an SPA with the acquirer, subject to required approvals. In that filing, the company said the transaction’s completion would remain “subject to obtaining all requisite approvals under applicable laws”.

In February 2026, the Securities and Exchange Commission of Pakistan said it had approved Jazz International Holding Limited’s acquisition of a controlling stake in TPL Insurance Limited, confirming regulatory clearance for the transaction in a press release dated February 11, 2026.

TPL Corp said it will issue further updates to shareholders as the process advances.