Barloworld sheds 50% Subaru share
BAW
Posted Thu, 02 Sep 2010
Business Report highlighted that Barloworld has sold its remaining 50% shareholding in Subaru Southern Africa to Toyota Tsusho Corporation. The value of the transaction, which was effective from 31 August 2010, was undisclosed. Barloworld Automotive chief executive Martin Laubscher said that the transaction further aligned the firm to its core business model. Barloworld spokesman Sibani Mngomezulu said Subaru Southern Africa was an importer and distribution business for a niche product that was not a strategic fit for Barloworld Automotive. Mngomezulu added that the sale of the remaining shareholding in the business was prompted by Barloworld and the transaction should not have any impact on its employees because Subaru Southern Africa was a going concern.
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