https://www.engineeringnews.co.za

Barloworld sells Australian auto unit for R1.3bn

Barloworld sells Australian auto unit for R1.3bn

Photo by Bloomberg

1st April 2014

By: Reuters

  

Font size: - +

South African transport group Barloworld said on Tuesday it has sold its Australian auto retail unit for R1.3-billion rand ($124-million).

Barloworld, which had seven auto showrooms in Sydney and Melbourne, said it would used the cash to pay down debt and fund growth opportunities.

The deal – first announced last month – is effective March 31, 2014.

Shares in Barloworld were up 0.6% at R110.99, largely in line with the JSE All-share index.

Edited by Reuters

Comments

Showroom

Alco-Safe
Alco-Safe

An unmanned breathalyser that is made to be tough and simple to use. Can be used in any environment for operator-free breathalyser testing.

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.424 0.482s - 167pq - 2rq
Subscribe Now