.barloworldmotor’s car-rental business, which will be carved out and listed in Johannesburg next month, will have a valuation of about R4.5 billion, the unit’s chief executive officer said. Moneyweb CarRental
Barloworld’s car-rental business, which will be carved out and listed in Johannesburg next month, will have a valuation of about R4.5 billion, the unit’s chief executive officer said. Barloworld has hired Goldman Sachs Group to advise the diversified South African industrial group on the spinoff and listing of Zeda, set for 13 December, according to stock exchange filings Monday.
“People and companies don’t need to own their own cars or manage their own fleets anymore,” Ganda said in Johannesburg. “This is where we see the market shift and further growth, with companies like Amazon coming, and Takealot already here, they need fleets to transport and deliver their goods — that is where we fit in.” The spinoff is a rare boost for the Johannesburg Stock Exchange, which has been struggling to attract listings in recent years.
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