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Barloworld/avis - Acquisition By Barloworld Of Avis Southern Africa Limited
Release Date: 04/03/2004 17:16:14 Code(s): AVS BAW
Barloworld/Avis - Acquisition By Barloworld Of Avis Southern Africa Limited
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
("Barloworld")
Avis Southern Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1967/010320/06)
(Share code: AVS)
(ISIN: ZAE000013371)
("Avis")
ACQUISITION BY BARLOWORLD OF AVIS SOUTHERN AFRICA LIMITED ("AVIS")
Shareholders are referred to the announcements released on 14 and 29 January
2004, regarding the acquisition by Barloworld of Avis by way of a scheme of
arrangement ("the scheme").
Shareholders are advised that Barloworld has received unconditional approval
from the Competition Tribunal to acquire Avis. The final remaining material
condition precedent to implementing the scheme is the sanctioning thereof by the
High Court.
The application to sanction the scheme will be considered by the High Court on
16 March 2004, and it is expected that the scheme will be implemented according
to the timetable contained in the announcement released on 14 January 2004.
Based on this timetable, the expected operative date of the scheme remains 29
March 2004.
Sandton
4 March 2004
Merchant bank and financial adviser to Barloworld
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Independent financial adviser and sponsor to Avis
Rand Merchant Bank
(A division of FirstRand Bank Limited)
Corporate Finance
Joint financial adviser and sponsor to Barloworld
Cazenove South Africa (Pty) Limited
Legal advisers to Barloworld
Bowman Gilfillan
(Registration number 1998/021409/21)
Legal advisers to Avis
Hofmeyr Herbstein & Gihwala Inc.
(Registration number 1997/001523/21)
Auditors and reporting accountants to Barloworld
Deloitte & Touche
Chartered Accountants (SA)
Registered Accountants and Auditors
Auditors and reporting accountants to Avis
PricewaterhouseCoopers Inc.
Chartered Accountants (SA)
Registered Accountants & Auditors
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