Head Topics

Barloworld wants to sell its Avis stake next, following takeover deals of its logistics businesses | Fin24

  • 📰 News24
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 80%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

As part of the restructuring of its business, Barloworld has found buyers for its logistics business. The only asset it still wants to sell is its stake in Avis. | Fin24

Barloworld still wants to offload its 50% stake in Avis.

The logistics division has been an underperformer in the group, recording a loss of R535 million for the year ended 30 September 2021. In an interview after the release of Barloworld’s results on Monday, CEO Dominic Sewela said the division’s disposal to family-owned Bakers Transport in KwaZulu-Natal was underway. When the transaction concludes, Bakers will take ownership of Barloworld’s Manline Energy, Manline Freight and Timber 24 business.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Fin24 Fook BEEE destroying a good company wouldn't buy a turd from them

Fin24 Notice! Notice!! Notice!!! Please to all who have interest to trade with the company must first register immediately. If you can't register please don't send your WhatsApp number thanks Hope you understand it's an other from the company management? Registration is free..

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Billionaire Sawiris wants 'level playing field' for Egypt businessNaguib Sawiris has warned that the Egyptian government's involvement in the private sector makes for an unfair playing field.
Source: eNCA - 🏆 49. / 51 Read more »

Accelerate Property jumps as it inks deal to sell European property portfolioThe group's shares rose as much as 13% on news it will be selling its retail centres in Austria and Slovakia, valued at €87.4m
Source: BDliveSA - 🏆 12. / 63 Read more »

Zuma tax case: Five reasons why the panic over confidentiality is wrong | Fin24.amaBhungane one of the parties in the case involving former President Jacob Zuma's tax information, tackles five misconceptions about an important and carefully balanced judgment
Source: News24 - 🏆 4. / 80 Read more »

EDITORIAL: Distell takeover could cause more JSE bluesMost investors will miss out because Heineken has no plans to list the $4bn yet-to-be-named regional champion With these many JSE_Group delighting surely TreasuryRSA KganyagoLesetja and EdKieswetter should reconsider the regulation 28 on foreign allowance for pension funds?
Source: BDliveSA - 🏆 12. / 63 Read more »

Australian publishers boosted in fight with Google and FacebookPhilanthropic organisation of country’s richest person to seek a collective bargaining deal over licensing
Source: BDliveSA - 🏆 12. / 63 Read more »

WATCH: Market ReportBusiness Day TV talks to Imtiaz Suliman from Sentio Capital
Source: BDliveSA - 🏆 12. / 63 Read more »