Karachi November 15, 2022: TPL Properties subsidiary, TPL REIT Management Company Limited (TPL RMC), and TASC Towers Holding (TASC), as a Consortium, announce that they have submitted a firm bid for the acquisition of a Telecom Tower Infrastructure Company owning and managing around 10,500 operating towers in Pakistan through an Infra REIT.
This is subject to receipt of all approvals and consents from the regulatory authorities.
The Consortium is a synergistic partnership between TPL RMC and TASC with a vision to strengthen Pakistan’s digital infrastructure and support the rapidly growing digital economy. TPL RMC is the pioneer of, and operator of the largest mixed-use real estate asset class REIT in Pakistan and is a wholly owned subsidiary of TPL Properties.
TPL Group (including PSX-listed companies TPL Corp, TPL Insurance, and TPL Properties), has been attracting institutional and strategic investors to Pakistan. This transaction will result in significant foreign direct investment. The proposed acquisition is being supported by one of the largest national financial institutions which provide debt structuring advisory & arrangement services.