A major Saudi industrial group has completed the acquisition of South Africa’s Barloworld in a deal valued at approximately one point three billion dollars, marking the end of a protracted takeover process and one of the most significant cross-border transactions involving a historic African company in recent years.

The agreement transfers ownership of the one-hundred-and-twenty-three-year-old industrial and equipment group to Saudi investors, following months of negotiations and regulatory reviews.

The acquisition brings Barloworld, long regarded as a cornerstone of South African industry, into a broader international portfolio aligned with Saudi Arabia’s strategy of expanding its global industrial footprint.

The Saudi buyer said the deal reflects confidence in Barloworld’s operational capabilities, established brands and long-term growth potential across mining, construction and industrial services.

Barloworld’s board supported the transaction after securing terms that it said recognised the company’s legacy and future prospects.

Shareholders approved the deal after a drawn-out process that included revised offers and engagement with regulators, labour groups and other stakeholders concerned about employment, governance and the company’s future direction.

Saudi officials and executives involved in the transaction described the acquisition as part of a wider effort to build globally competitive industrial platforms, diversify investments and deepen economic links with key emerging markets.

They emphasised that Barloworld would continue to operate with its existing expertise while benefiting from new capital, expanded networks and long-term strategic backing.

The completion of the deal closes a long chapter in Barloworld’s history as an independent South African-listed company and opens a new phase under Saudi ownership, with both sides expressing optimism that the partnership will strengthen the firm’s global reach and resilience in cyclical industrial markets.