KEY POINTS
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The Newco takeover of Barloworld reached 97.6 percent shareholder acceptance.
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Barloworld takeover by Newco clears path for a full delisting from the JSE.
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The takeover strengthens Barloworld’s industrial operations and growth plans.
The final stage before Barloworld Group, the South African industrial giant led by Dominic Sewela, is taken off the Johannesburg Stock Exchange is the completion of its acquisition by Newco. According to the firm, shareholders who owned around 139.5 million common shares, or about 97.6 percent of those who were eligible, accepted the Standby Offer when it concluded at noon on November 7, 2025. The consortium currently owns about 96.5 percent of Barloworld’s issued stock, including shares that are already under Newco’s control and those owned by excluded shareholders.
Newco takeover strengthens Barloworld operations
A mandatory buyout of the remaining shares at R120 ($7.00) apiece is permitted by the Companies Act of South Africa due to the high acceptance. This action, referred described as a “squeeze-out,” will enable Newco to obtain complete ownership. Sydney Mhlarhi, the spokeswoman for Newco, stated, “We are encouraged by the overwhelming support from shareholders.” “By reaching this milestone, we are able to transfer Barloworld into private ownership and strengthen our dedication to bolstering its industrial operations while maintaining its South African heritage.”
The remaining shares will be owned outright by Newco and the excluded stockholders after the squeeze-out is complete. The business stated that it plans to halt trading in the stock after Barloworld’s listing on the JSE and A2X is terminated.
Barloworld was established in 1902 and has long been a major area distributor of Caterpillar equipment and gear. Although leaders have emphasized their dedication to employee welfare and empowerment initiatives, the delisting will mark the end of a significant chapter in the company’s public life.
Barloworld takeover by Newco hits final stage
For the first half of fiscal 2025, Barloworld recorded sales of R18.1 billion ($1.04 billion), which was 5.8% less than the same period the previous year. In Southern Africa, the company’s equipment business had a 6% decline, while its vehicle and transport section saw a 37% decline.
According to billionaire Africa, the takeover process began in late 2024 when Newco, a group consisting of Katlego Le Masego Trust, the 100% Black-owned Entsha, and Saudi Arabia’s Zahid Group, first hinted at its intention to buy Barloworld. After receiving unconditional authorization from Namibia’s Competition Commission and approval from South Africa’s Competition Tribunal in August, the $1.3 billion acquisition completed all regulatory requirements.
Soon, an official announcement on Barloworld’s delisting will be made, ending the company’s more than 100-year history as a publicly traded industrial giant in South Africa.
