Barloworld completes R1bn sale of motor retail unit
The sale is an ‘important milestone in the pivoting of the portfolio towards defensive, relatively asset-light and cash-generative industrial sectors’, the company says
Barloworld, the biggest reseller of Caterpillar off-road construction machinery in SA, says it has completed the R1bn sale of its motor retail business, as it continues its drive to streamline its portfolio.
The transaction took effect on June 1, with the group receiving R856m, while a further R150m will be paid over two years. It has said the transaction proceeded faster than it had expected...