(Reuters) -South Africa’s Barloworld said on Tuesday its investigation into U.S. export control regulations found “apparent violations” by the company, which it is addressing through undisclosed actions.
The probe, however, cleared the company of any breaches of U.S. sanctions.
Barloworld said it has submitted the final report to U.S. authorities and concluded the investigation, meeting a key condition for its pending takeover acquisition.
The takeover bid by a consortium of the company’s former executives and Saudi Arabian investor Zahid Group was announced earlier in June and conditionally approved by South Africa’s Competition Tribunal in August.
(Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich)
