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Barloworld’s Car-Rental Unit Sees Valuation of $260 Million on Listing

  • Zeda is set for separate listing in Johannesburg on Dec. 13
  • Barloworld hires Goldman Sachs to advise it on transaction

Barloworld Ltd.’s car-rental business, which will be carved out and listed in Johannesburg next month, will have a valuation of about 4.5 billion rand ($260 million), the unit’s chief executive officer said.

Barloworld has hired Goldman Sachs Group Inc. to advise the diversified South African industrial group on the spinoff and listing of Zeda Ltd., set for Dec. 13, according to stock exchange filings Monday. The business houses the Avis and Budget rental brands, with Barloworld shareholders receiving one Zeda share for each Barloworld share they own.