Publications
Partners
Johannesburg - Transport group Barloworld [JSE:BAW] is in advanced talks to sell its Australian auto retail business, it said shortly after the stock market closed on Thursday.
Barloworld, which runs seven auto showrooms in Sydney and Melbourne, did not say who it was talking to or how much the business could fetch.
The company said the deal fell below the Johannesburg bourse's transactions threshold for mandatory disclosure or shareholder approval, indicating the value would be less than 5% of its market capitalisation.
Shares in Barloworld traded 1.06% higher at R107.50 on Friday, giving it a market capitalisation of R24.84bn.
Barloworld, which runs seven auto showrooms in Sydney and Melbourne, did not say who it was talking to or how much the business could fetch.
The company said the deal fell below the Johannesburg bourse's transactions threshold for mandatory disclosure or shareholder approval, indicating the value would be less than 5% of its market capitalisation.
Shares in Barloworld traded 1.06% higher at R107.50 on Friday, giving it a market capitalisation of R24.84bn.
