Standard Bank, SA’s largest bank by assets, has guaranteed a maximum of R17bn of the purchase price put forward by a consortium looking to buy industrials group Barloworld — in a deal that cements the bank’s reputation as one of Africa’s biggest financiers of corporate deals.

The proposed R23bn, which has received the backing of the board, is set to be concluded this year. Barloworld CEO Dominic Sewela is a leading figure in the consortium...

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