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August 5, 2008

Barloworld reprices black empowerment deal

JSE-listed diversified industrial firm Barloworld on Tuesday said that it had repriced its 10% broad-based black economic empowerment (BBBEE) initiative owing to the rerating of the South African equities market as well as the Barloworld share price.

"It is important for our BEE transaction to be sustainable into the future. Owing to the recent rerating of the South African equities market and Barloworld share price since our announcement on June 12, our board has recommended repricing the Barloworld black ownership initiative," Barloworld CEO Clive Thomson said in a statement to shareholders.

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Posted by StaffWriter at August 5, 2008 7:56 AM