Ashurst advises Zahid Group on US$1.3bn acquisition of Barloworld

Global law firm Ashurst has advised a consortium led by a Saudi conglomerate Zahid Group on its acquisition of Barloworld Limited, in a deal that values Barloworld at US$1.3 billion. This transaction is the first cross-border public-to-private transaction led by a non-governmental entity based in the GCC region.

Barloworld is a Johannesburg Stock Exchange listed South African construction equipment company, while Zahid Group is a leading family-owned Saudi Arabian business. The proposed acquisition aligns with Zahid Group's strategy to expand and diversify its portfolio. 

The Ashurst team was led by corporate partners Simon Rahimzada in Dubai and Annamaria Pinzuti in Milan, with support from Leonid Stoliarski in Riyadh (Local Partner, Riyadh) and Maroun El Hachem (Senior Associate, Dubai). The wider team included Neil Cuninghame (Competition Partner, London), Peter Turner-Kerr (Competition Counsel, Madrid), Javier Torrecilla (Competition Counsel, Madrid), Martyn Rogers (Global Loans Partner, Riyadh), Barbara Anderson (Global Loans Counsel, Riyadh), Tom Cummins (Dispute Resolution Partner, London) and Sophie Law (Dispute Resolution Senior Associate, London).