Monday, February 10, 2020
Nedbank’s facilitation of the Barloworld-Khula Sizwe transaction highlights the bank’s commitment to transformation in the commercial property sector.
This landmark transaction enabled investors to own a stake in a R3 billion commercial property portfolio through a public offering concluded in May 2019, with shares allocated exclusively to qualifying broad-based black economic empowerment (BBBEE) investors.
The empowerment transaction – one of the largest involving commercial property concluded in South Africa – was a sale and leaseback under which Barloworld is the tenant of the properties, with the lease also securing cashflow for the investors. The transaction was also expected to create a number of benefits for Barloworld: