Barloworld is set to delist from the Johannesburg Stock Exchange (JSE).
by Blue Africa News
Barloworld is set to change ownership, after South Africa’s competition tribunal approved its acquisition by a consortium led by Saudi Arabia’s Zahid Group, at R23 billion (approximately US$1.3 billion).
Barloworld, an industrial processing, distribution, and services company focusing on industrial equipment services and consumer industries (food and ingredient solutions), is set to be acquired by Newco, comprising Gulf Falcon Holding, a subsidiary of Saudi Arabia’s Zahid Group and Entsha, a company linked to Barloworld CEO Dominic Sewela.
“We maintain our firm belief that this transaction is a win for South Africa and ensures Barloworld’s long-term sustainability, offering a compelling premium for shareholders while delivering broad-based economic and value benefits,” announced Sydney Mhlarhi, Newco spokesperson.
Headquartered in Jeddah, the Kingdom of Saudi Arabia, Zahid Group on the other hand is a certified organization by the top employers institute in Saudi and the Middle East, offering services in construction, energy, manufacturing, travel, financial, hospitality, oil and marketing sectors.
As a precursor to change of ownership, Barloworld is set to delist from the Johannesburg Stock Exchange (JSE).
The approval is subject to certain agreed public interest conditions, which include the implementation of a broad-based black economic empowerment structure after delisting.
The approval came off the backdrop of a positive recommendation from the South African Competition Commission in June, 2025, with the endorsement now subject to certain agreed public interest conditions.
However, it is still not clear whether the deal will be concluded in the coming days, after two of the largest shareholders voted against Barloworld buyout in February 2025.
Blue Africa News