Barloworld makes Avis takeover bid

Newswire

JOHANNESBURG, Nov 20 (Reuters) - South African brand management group Barloworld said on Thursday it had made a firm cash and share offer to acquire the 65.3 percent of Avis it does not already own for a total 1.42 billion rand ($215.4 million). In a joint statement, Barloworld and Avis said Barloworld would pay 1.085 billion rand in cash and 335 million rand in Barloworld shares, in a deal that values 100 percent of Avis at about 2.175 billion rand.

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