Saudi’s Zahid to Reopen Talks With Barloworld’s Shareholders
Zahid Group will initiate fresh negotiations with Barloworld's shareholders after an initial acquisition offer was rejected, aiming to acquire more shares than 50% to implement more efficient processes in the business. The consortium, led by Zahid, expects at least another 32% support from shareholders and is seeking to buy as many shares as possible to maintain its stake in Africa's Caterpillar equipment distributor. The company plans to conclude the standby offer within 30 trading days.
- This renewed push for majority ownership highlights the complex web of interests and relationships between Barloworld's largest shareholders, with significant implications for the company's future direction and management structure.
- What role will the Public Investment Corp.'s conditions on black ownership requirements play in shaping the ultimate fate of Zahid's acquisition bid?