Angola approves standby offer for Barloworld acquisition

Barloworld Limited and Newco jointly announced that Angola’s competition authority has unconditionally approved the implementation of the Standby Offer. This fulfills a crucial condition for the Standby Offer, which was triggered on February 28, 2025.

The Standby Offer involves Newco acquiring Barloworld Ordinary Shares at ZAR120 per share. The remaining outstanding regulatory approval required is the competition approval from COMESA. The filing for COMESA approval was submitted in July 2025, and both parties are actively engaging to accelerate the process.

The Standby Offer remains open for acceptance by Barloworld Ordinary Shareholders until the earlier of December 11, 2025, or 10 business days after the offer becomes unconditional. The Longstop Date for the offer was previously extended to December 11, 2025.