PIC makes U-turn in R23bn Barloworld buyout after BEE concessions
Empowerment undertaking responded directly to PIC’s earlier critique that the deal lacked inclusivity
23 April 2025 - 15:11
The Public Investment Corporation (PIC) has reversed its earlier resistance to the R23bn takeover of Barloworld in a twist to a high-profile management-led buyout offer that also met broader shareholder rebellion earlier this year.
The change of heart from the PIC, Barloworld’s largest shareholder with a 22% stake, or about 42-million shares, injects renewed momentum into the bid. ..
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