Lonrho

Lonrho is a London-based conglomerate that is engaged in multiple business sectors in Africa mainly agribusiness, infrastructure, transport, hospitality and support services.[1]

For the company known as "Lonrho" until 1999, see Lonmin. For the similarly named racehorse, see Lonhro.

Lonrho
TypePrivate
LSE: LONR
IndustryInvestments
Founded1998
HeadquartersLondon, W1
United Kingdom
Revenue £ 206.5 Million (2013)
Total assets £ 328.5 Million (2013)
Number of employees
3,415 (2013)
Websitewww.lonrho.com

History

Lonrho traces its roots from the original Lonrho plc (now Lonmin) a company which was incorporated in the United Kingdom on 13 May 1909[2] as the London and Rhodesian Mining and Land Company Limited.[3] Lonrho plc grew to be one of the world's largest companies with over 800 subsidiary companies in 80 countries.[2]

One previous CEO of Lonrho was the controversial "Tiny" Rowland (born Roland Walter Fuhrhop, 1917–1998), a corporate raider who ran the firm from 1962 to 1994.

The current Lonrho was formed on 26 February 1998[4] as a spin-off of Lonmin (at the time called "Lonrho")[5] and it was then known as Lonrho Africa plc.[6] The demerger transferred all non-mining African assets to the separate publicly listed Lonrho Africa plc[7] while Lonrho plc (now Lonmin) retained the mining businesses. Lonrho Africa Plc subsequently changed its name to Lonrho Plc on 10 May 2007 following the approval of shareholders.[8]

Lonrho was one of the funding partners in low-cost airline Fastjet operating in Africa.[9] This is after they exchanged their stake in Fly 540 for shares in Rubicon Diversified Investments Plc, which was later renamed Fastjet in August 2012.[10]

In 2013, Lonrho plc was delisted from the LSE, JSE and OTCQX after agreeing to a £174.5 Million takeover by FS Africa,[11][12] a bid vehicle controlled by Swiss billionaire Thomas Schmidheiny and Rainer-Marc Frey.[13][14]

See also

References
  1. "Lonrho Plc's Strategy & Vision". Retrieved 29 October 2012.
  2. "1988 - Directory of the World's Largest Companies: Lonrho PLC - Corporate Information" (PDF). The United Nations Centre on Transnational Corporations. Archived from the original (PDF) on 7 December 2014. Retrieved 6 December 2014.
  3. Page, Melvin E., ed. (2003). Colonialism: an International Social, Cultural and Political Encyclopedia. Santa Barbara: ABC-CLIO. pp. 350–351. ISBN 1-57607-335-1.
  4. "Market Access Profile - Lonrho Plc" (PDF). S&Q Capital IQ. McGraw Hill Financial. 22 August 2013. Retrieved 6 December 2014.
  5. "Lonmin plc History". International Directory of Company Histories, Vol. 66. St. James Press, 2004. Retrieved 6 December 2014.
  6. "Lonrho plc / Lonrho Africa plc / Lonmin plc - Fact sheet" (PDF). Share View. Retrieved 6 December 2014.
  7. "Lonmin - 2012 Rights Issues" (PDF). Lonmin Plc. 11 December 2012. p. 156. Retrieved 6 December 2014.
  8. "Lonrho plc / Lonrho Africa plc / Lonmin plc" (PDF). Equiniti. February 2012. Retrieved 29 October 2012.
  9. "Lonrho departs fastjet's share register". Retrieved 5 April 2014.
  10. "Fastjet plc 2013 Annual Report" (PDF). Fastjet plc. 31 December 2013. Retrieved 2 December 2014.
  11. Osborne, Alistair (15 May 2013). "Lonrho bows out after sale to Swiss investors for £175m". The Telegraph. Retrieved 6 December 2014.
  12. "Thomas Eggar acts for Lonrho Plc in £170m takeover and de-listing from Stock Exchange deal". Thomas Eggar. 29 July 2013. Retrieved 6 December 2014.
  13. "Takeovers" (PDF). Investors Chronicle. 7 June 2013. Retrieved 6 December 2014.
  14. Allix, Mark (15 May 2013). "FS Africa to buy Lonrho for £175m". Business Day Live. Retrieved 6 December 2014.
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