Industrial conglomerate group Barloworld Limited on Wednesday launched its public offer for Khula Sizwe Property Holdings, a black-owned property company, in a bid to enable black South Africans to own a stake in a significant property company.
Khula Sizwe will be providing the opportunity for black South Africans to own their share of a commercial property portfolio valued at R2.86 billion. Barloworld said the total value of the transaction was R3.5 billion. The public offer is aimed to raise R163.4 million to fund a portion of the property acquisition for 30% ownership. Barloworld said it was contributing R174.2 million for 32% Employee Trust while the balance would be funded through an external loan.
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