Newco now controls 90.6% of Barloworld
Industrial equipment company Barloworld is nearing the end of its transition to private ownership, with consortium-backed Newco now holding a controlling 67.3% stake and, together with related parties, effectively controlling 90.6% of the company’s ordinary shares.
The consortium previously called on the remaining shareholders to tender their shares to allow the company to be fully delisted.
The acquisition is part of a broader plan to restructure Barloworld under private ownership, following a wholly unconditional standby offer. Payments to shareholders who have accepted the offer have begun and the tender period has been extended to accommodate those still in the process of completing administrative steps through their brokers.
While Newco’s total holding in Barloworld now amounts to 90.6% of the total number of shares in issue, it requires about 1.5% more shares before it will be able to implement a squeeze out. Once this point is reached, Newco says it will be announced to the market.
The current structure gives Newco near-total control, allowing the company to simplify decision-making and focus on optimising existing operations without the constraints of public market obligations.
Under the new ownership, Barloworld’s existing management team, including CEO Dominic Sewela, will continue in their roles to ensure operational continuity.
The company will maintain its current business approach, concentrating on the performance of key divisions and optimising resource allocation, rather than undertaking immediate structural changes.
Once delisted, Barloworld is expected to operate with a streamlined ownership structure, providing a more stable environment for the company and its remaining shareholders.
Article Enquiry
Email Article
Save Article
To advertise email advertising@creamermedia.co.za or click here
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
