TPL Corp and Abhi sign agreement to buy
FINCA Microfinance Bank
TPL Corp Limited and Abhi (Private)
Limited have signed a Share Purchase Agreement, alongside other definitive
agreements, to jointly acquire FINCA Microfinance Bank Limited from FINCA
Microfinance Coöperatief U.A.
“We are excited to announce that,
following the approval of TPL Corp's Board of Directors, TPL and Abhi have
finalized a Share Purchase Agreement to acquire FINCA Microfinance Bank
Limited,” stated TPL Corp in a notice to the Pakistan Stock Exchange (PSX).
Read More TPL
Corporation exploring to acquire majority stake in FINCA Microfinance Bank Ltd
(FMBL)
This acquisition paves the way for a
significant expansion of financial services nationwide and marks a key
milestone in advancing financial inclusion in Pakistan.
With its diverse business portfolio,
TPL views this acquisition as a crucial step toward enhancing its influence in
the financial sector and fostering a more inclusive financial ecosystem in the
country.
The acquisition is contingent on
regulatory approvals and closing conditions. Updates regarding the transaction
will be shared with the PSX as they become available.
Source: Profit Pakistan