Barloworld completed the acquisition of Wagner Asia Equipment for $168m.

Barloworld, an equipment supplier completed the acquisition of Wagner Asia Equipment, a supplier of heavy-duty machinery for $168m. The acquisitions were in line with its aim to allocate capital to opportunities that complement its businesses. "The group has consistently stated its desire to allocate capital to opportunities that complement its competencies as part of its medium-term strategy. The group’s balance sheet is strong and this opportunity, adjacent to the current Russian operation, presents an attractive growth prospect within the equipment division. The Wagner Asia business will be combined with the current Barloworld Russian business unit into a newly formed Equipment Eurasia unit," Barloworld.