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Barloworld delays Mongolian acquisition amid Covid-19 disruptions

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Travel restrictions have hit transaction, which had been scheduled to be completed on April 1

One of the Hino trucks operated by Barloworld Logistics is seen in this file photograph. Barloworld has warned that the coronavirus is expected to further weigh on its operating environment, already under pressure from weak consumer demand, volatile commodity prices and depressed consumer demand. Picture: MOTOR NEWS

The group said in February it had agreed to purchase Wagner Asia Equipment, though the group now said travel restrictions have delayed the transaction, which had been scheduled to be completed on April 1. The target companies are engaged in the business of selling and distributing construction equipment, mining equipment, power systems and related goods and services in Mongolia, primarily under the Caterpillar brand.Barloworld also warned the coronavirus is expected to further weigh on its operating environment, which had already been under pressure from weak consumer demand in SA, volatile commodity prices and depressed consumer demand.

 

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