[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Asante Mokhuoa [@AsanteOnBoards](/creator/twitter/AsanteOnBoards) on x 16K followers Created: 2025-07-20 07:28:28 UTC Barloworld’s Buyout: A Case Study in Leadership, Ownership, and Economic Transformation (Part 6): Regulatory Greenlight, Strategic Waiver, and Resilient Earnings Keep Barloworld Deal on Track.... It has been nearly three months since my last reflection on what I originally characterised as one of South Africa’s most high-profile corporate transactions. In that initial think piece, I did not set out merely to profile Barloworld's Group CEO, Dominic Sewela; his track record already speaks for itself. Rather, I sought to articulate the scale and significance of a transaction that, from the outset, attracted more scrutiny than praise, precisely because it was poised to challenge long-standing assumptions about ownership, leadership, and transformation in South Africa’s corporate sector post-1994. What began as a single commentary has since evolved into a full series. Now at Part 6, the developments we anticipated are materialising. Since our last update on XX April, four critical developments have confirmed what some of us recognised from the beginning...this transaction is not only viable, but visionary: X. The decisive backing of the Public Investment Corporation (PIC), which I explored in detail in Part 5, remains the cornerstone of momentum. X. Regulatory approval has now been recommended by the Competition Commission, subject to conditions that reinforce the public interest. X. Barloworld’s interim results released in May, offered a transparent snapshot of a company holding its ground during a tectonic shift. X. And perhaps most critically, Newco waived the XX% condition, unshackling the deal from the weight of consensus and stepping confidently into a majority future. Let’s unpack what all this means. X. Regulatory Greenlight: In a significant boost for the transaction, the Competition Commission has recommended that the Competition Tribunal approve the proposed acquisition, subject to public interest conditions. This isn’t just a procedural milestone, it’s an affirmation that the transaction aligns with South Africa’s broader economic priorities. X. The XX% Waiver: A Strategic Recalibration One of the most decisive developments came at the start of July, when Newco waived the XX% minimum acceptance condition initially required for the deal to proceed. To date, the consortium has secured valid acceptances for approximately XXXX% of Barloworld’s shares. When combined with its own and the Barloworld Foundation’s existing holdings, total support now stands at XXXX% of the company’s issued shares. This shift does three things: -Frees the transaction from dependence on full consensus. -Enables execution even if Barloworld remains listed. -And sends a clear signal: the leadership is not waiting for permission; it’s moving with intent. X. Interim Results at a Glance Barloworld’s interim results, released in May, point to a business demonstrating underlying resilience in the face of external pressures. While group revenue declined by 5.8%, this contraction was primarily attributable to continued strain at Vostochnaya Technica (VT). Excluding the impact of VT, the revenue decline was a more modest 2.2%, accompanied by an improvement in EBITDA margin to 12.5%—a signal of stable operating efficiency within the core portfolio. Key Highlights: Revenue: R18.1 billion (down 5.8%). Cash Dividend: XXX ZAR cents per share. Net Asset Value per share: Increased by 9%. Gross debt: Reduced by 31%. Group CEO Dominic Sewela emphasized the strength of the company’s diversified portfolio and its ability to adapt to volatility through focused execution, capital discipline, and clear strategic intent. In short, while the headline numbers reflect broader market headwinds, Barloworld’s core business continues to show strength. This provides a solid operational foundation as the proposed buyout by Newco moves toward finalisation. With regulatory hurdles nearly cleared, majority shareholder backing in place, and operational continuity confirmed through interim results, the Barloworld acquisition looks more promising than ever. If you're joining the conversation for the first time, I invite you to explore Parts X through X of this series to understand the full trajectory of what is shaping up to be one of the most consequential Management Buyouts in South Africa’s corporate history. #AskAsanteOnBoards #BarloworldBuyout #TransformationInAction  XXXXX engagements  **Related Topics** [has been](/topic/has-been) [$bawjo](/topic/$bawjo) [acquisition](/topic/acquisition) [Post Link](https://x.com/AsanteOnBoards/status/1946834579932729526)
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Asante Mokhuoa @AsanteOnBoards on x 16K followers
Created: 2025-07-20 07:28:28 UTC
Barloworld’s Buyout: A Case Study in Leadership, Ownership, and Economic Transformation (Part 6):
Regulatory Greenlight, Strategic Waiver, and Resilient Earnings Keep Barloworld Deal on Track....
It has been nearly three months since my last reflection on what I originally characterised as one of South Africa’s most high-profile corporate transactions.
In that initial think piece, I did not set out merely to profile Barloworld's Group CEO, Dominic Sewela; his track record already speaks for itself. Rather, I sought to articulate the scale and significance of a transaction that, from the outset, attracted more scrutiny than praise, precisely because it was poised to challenge long-standing assumptions about ownership, leadership, and transformation in South Africa’s corporate sector post-1994.
What began as a single commentary has since evolved into a full series. Now at Part 6, the developments we anticipated are materialising.
Since our last update on XX April, four critical developments have confirmed what some of us recognised from the beginning...this transaction is not only viable, but visionary:
X. The decisive backing of the Public Investment Corporation (PIC), which I explored in detail in Part 5, remains the cornerstone of momentum.
X. Regulatory approval has now been recommended by the Competition Commission, subject to conditions that reinforce the public interest.
X. Barloworld’s interim results released in May, offered a transparent snapshot of a company holding its ground during a tectonic shift.
X. And perhaps most critically, Newco waived the XX% condition, unshackling the deal from the weight of consensus and stepping confidently into a majority future.
Let’s unpack what all this means.
X. Regulatory Greenlight:
In a significant boost for the transaction, the Competition Commission has recommended that the Competition Tribunal approve the proposed acquisition, subject to public interest conditions. This isn’t just a procedural milestone, it’s an affirmation that the transaction aligns with South Africa’s broader economic priorities.
X. The XX% Waiver: A Strategic Recalibration
One of the most decisive developments came at the start of July, when Newco waived the XX% minimum acceptance condition initially required for the deal to proceed. To date, the consortium has secured valid acceptances for approximately XXXX% of Barloworld’s shares. When combined with its own and the Barloworld Foundation’s existing holdings, total support now stands at XXXX% of the company’s issued shares.
This shift does three things:
-Frees the transaction from dependence on full consensus.
-Enables execution even if Barloworld remains listed.
-And sends a clear signal: the leadership is not waiting for permission; it’s moving with intent.
X. Interim Results at a Glance
Barloworld’s interim results, released in May, point to a business demonstrating underlying resilience in the face of external pressures. While group revenue declined by 5.8%, this contraction was primarily attributable to continued strain at Vostochnaya Technica (VT).
Excluding the impact of VT, the revenue decline was a more modest 2.2%, accompanied by an improvement in EBITDA margin to 12.5%—a signal of stable operating efficiency within the core portfolio.
Key Highlights: Revenue: R18.1 billion (down 5.8%). Cash Dividend: XXX ZAR cents per share. Net Asset Value per share: Increased by 9%. Gross debt: Reduced by 31%.
Group CEO Dominic Sewela emphasized the strength of the company’s diversified portfolio and its ability to adapt to volatility through focused execution, capital discipline, and clear strategic intent.
In short, while the headline numbers reflect broader market headwinds, Barloworld’s core business continues to show strength. This provides a solid operational foundation as the proposed buyout by Newco moves toward finalisation.
With regulatory hurdles nearly cleared, majority shareholder backing in place, and operational continuity confirmed through interim results, the Barloworld acquisition looks more promising than ever.
If you're joining the conversation for the first time, I invite you to explore Parts X through X of this series to understand the full trajectory of what is shaping up to be one of the most consequential Management Buyouts in South Africa’s corporate history.
#AskAsanteOnBoards #BarloworldBuyout #TransformationInAction
XXXXX engagements
Related Topics has been $bawjo acquisition