Barloworld has advised shareholders that Barloworld South Africa, a wholly-owned subsidiary of Barloworld, has started discussions with NMI Durban South Motors – a joint venture of the Barloworld group in which it holds a 50% interest alongside the Akoo family – to dispose of the Barloworld group’s motor retail business as a going concern. “These discussions are gaining momentum, and subject to board approval, are expected to be concluded in the next few months, following which a detailed terms announcement will be published,” says the JSE-listed group.
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