Africa-Press – South-Africa. Barloworld has announced that its takeover by a consortium of investors is now wholly unconditional.
This comes after the parties agreed to waive the standby condition related to the receipt of competition approval by COMESA on Wednesday, 1 October 2025.
Barloworld is listed on the JSE and is the sole distributor of equipment supplier Caterpillar in Southern Africa.
Over the past year, Barloworld has been in the process of concluding a deal that would see it being bought by a consortium of investors, dubbed ‘Newco’.
Newco comprises Entsha (51%), a company heavily linked to CEO Dominic Sewela, and long-term shareholder Zahid Group (49%). The consortium is offering R123.10 per Barloworld share, valuing the company at around R23 billion.
This acquisition will result in Barloworld delisting from the JSE and becoming a privately held company. However, the company will keep its name and remain headquartered in South Africa.
On Wednesday, 1 October, the company explained that it and Newco have agreed to waive the standby condition related to the receipt of competition approval by COMESA.
It explained that, following this waiver, all standby offer conditions have now been fulfilled or waived, meaning the offer has become unconditional.
Newco has received valid acceptances of the standby offer in respect of 77,595,744 Barloworld ordinary shares, which equate to approximately 41.6% of all the company’s issued ordinary shares.
This, together with the consortium’s and the Barloworld Foundation’s existing shareholdings, equates to 65.0% of Barloworld’s issued ordinary shares.
“This landmark transaction reflects the consortium’s strong belief in the long-term potential of Barloworld and is a resounding endorsement of South Africa’s prospects,” Newco spokesperson Sydney Mhlarhi said.
Mhlarhi urged Barloworld shareholders who have not yet accepted the offer to act promptly. Shareholders who still wish to accept the offer have until Wednesday, 15 October 2025, to do so.
Provided that the consortium receives the compliance certificate from the Takeover Regulations Panel by no later than Tuesday, 7 October 2025, the settlement of the standby offer will play out based on the timetable below –
Finalisation DateWednesday, 1 October 2025First payment dateWednesday, 8 October 2025Last day to trade in Barloworld ordinary shares in order to be able to accept the standby offerFriday, 10 October 2025Second payment dateWednesday, 15 October 2025Record date and the standby offer closes at 12:00Wednesday, 15 October 2025Results of the standby offer announced on SENS and the ANSThursday, 16 October 2025Final payment dateThursday, 16 October 2025
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