Consortium readies to snap up Barloworld
An acquisition offer by a consortium including a trust owned by the CEO and Saudi Arabia’s Zahid group is brewing
15 November 2024 - 12:06
The shares of the diversified industrial group Barloworld rose as much as 10% after it said it was advancing in ongoing negotiations with a group of investors that were looking to purchase all of the issued common shares in the company.
Acting through a recently formed special purpose vehicle called Newco, the consortium is ultimately made up of Entsha, a recently incorporated SA company owned by The Katlego Le Masego Trust owned by CEO Dominic Sewela and his family, which will have the opportunity to exercise 51% of the voting rights in Newco...
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