UPDATE 1-Barloworld sells logistics unit stake

Newswire

(Adds background, details) JOHANNESBURG, July 21 (Reuters) - South Africa's Barloworld has sold a 25 percent stake in its local and African logistics business to a group of black investors led by Letsema Holdings, the industrial group said on Thursday. The transaction, worth 118 million rand ($17.68 million), would be effective from Aug. 1, 2005, and would lead to the creation of a new firm -- Barloworld Logistics Africa Ltd -- housing all of the African business activities of the group. ...

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