Moneyweb reports that a management-led consortium and a Saudi Arabian investor group have secured the Competition Tribunal’s approval to acquire Barloworld, subject to public interest conditions on employment and historically disadvantaged person (HDP) ownership.

In December 2024, Barloworld announced its intention to sell all of its ordinary shares valued at R23.3 billion to a newly‑formed holding company, Newco, comprising construction company Entsha, linked to Barloworld CEO Dominic Sewela, and Gulf Falcon Holding, a subsidiary of Saudi Arabia’s Zahid Group. The ruling follows hearings held in June, July and August 2025, during which the Competition Commission, the merger parties, the National Union of Metalworkers of SA (Numsa) and the Food and Allied Workers Union (Fawu) made submissions. The tribunal also sought clarification on certain matters and considered revised conditions proposed after oral submissions by the unions.

Under the ruling, the merged entity may not retrench any South African employees for two years after implementation. As a direct result of the transaction, Barloworld staff’s existing terms and conditions of employment must also remain unchanged. The tribunal’s conditions require a two-phase empowerment transaction that will ultimately give HDPs and participating employees a collective 13.5% shareholding in Barloworld. Participating employees will be permanent staff employed for at least six months, most of whom are HDPs, not serving notice, facing dismissal proceedings, or employed temporarily.

• Read the full original of the report in the above regard at Moneyweb

Get other news reports at the SA LabourNews home page