Karachi October 26,2021: TPL Insurance has informed PSX though material filing that company has received a draft term sheet in respect of the investment by the Finnish Fund for Industrial Cooperation Limited, a Private Limited Company incorporated in Finland, (“Finnfund”), a major development financier and impact investor, investing in responsible and profitable businesses in the developing countries.
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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 finalised.
Finnfund is a Finnish development financier and professional impact investor. We build a sustainable world by investing in responsible and profitable businesses in developing countries. Each year we invest 150–200 million euros in 20-30 projects, emphasising renewable energy, sustainable forestry, sustainable agriculture and financial institutions. Today Finnfund’s investments and commitments total about 800 million euros, half of them in Africa. The company has 80 employees.
