UPDATE 1-Barloworld makes $215 mln offer for Avis

Newswire

(Adds details paragraphs 3-6) 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). Avis shareholders will receive 970 rand in cash and five Barloworld shares for every 100 Avis shares held, the firms said in a joint statement. This translates into 1.085 billion rand in cash and 335 million rand ...

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