Newco secures PIC backing, commits to Barloworld BEE deal

Newco has announced that the PIC will accept the standby offer for 41,588,000 Barloworld Ordinary Shares, representing approximately 21.93% of the total shares in issue. This commitment follows discussions between Newco and the PIC, resulting in Newco pledging to implement a 13.5% broad-based black economic empowerment (BEE) transaction in Barloworld after its delisting from the JSE and A2X. The offer is subject to certain terms and conditions, as detailed in Newco's announcement. Barloworld shareholders can access Newco's announcement on the JSE website for further information.