Zahid Group Captures Barloworld in $1.3 Billion Deal

Ashurst, a global law firm, has successfully orchestrated a major international transaction by advising the Saudi conglomerate Zahid Group on its acquisition of Barloworld Limited. Barloworld, a publicly listed South African company on the Johannesburg Stock Exchange, specializes in construction equipment, and has been valued at $1.3 billion. This acquisition marks a significant milestone as it is one of the first cross-border public-to-private transactions led by a non-governmental entity headquartered in the Gulf region. The comprehensive team at Ashurst was led by corporate partners Annamaria Pinzuti in Milan and Simon Rahimzada in Dubai, with substantial contributions from partners and associates across various global offices including Riyadh, London, and Madrid. The deal underscores the increasing influence of Gulf-based entities in the global M&A landscape and highlights Ashurst's robust capabilities in managing complex international deals.