Saudi’s Zahid Offers to Buy, Delist South Africa’s Barloworld

A unit of Saudi Arabia’s Zahid Group and its local partners offered to buy all shares in South Africa’s Barloworld Ltd.

A group that includes Gulf Falcon Holding Ltd. — a wholly owned unit of Zahid — and Entsha Ltd., an entity linked to Barloworld Chief Executive Officer Dominic Sewela, has made an offer of 120 rand per share, Barloworld said in a statement Wednesday. The stock surged as much as 19% in Johannesburg.

The offer won’t be reduced by the 3.10 rand dividend the firm declared on Nov. 22, which takes the total so-called “value unlock” to ...