Lonrho

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For the company known as "Lonrho" until 1999, see Lonmin.
Lonrho
Private
Traded as LSE: LONR
Industry Investments
Founded 1998
Revenue Increase £ 206.5 Million (2013)
Total assets Decrease £ 328.5 Million (2013)
Number of employees
3,415 (2013)
Website Homepage

Overview[edit]

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

History[edit]

Lonrho traces its roots from the original Lonrho plc (now Lonmin) a company 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]

Lonrho as we know it 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[10] for shares in Rubicon Diversified Investments Plc, which was later renamed Fastjet in August 2012.[11]

In 2013, Lonrho plc was delisted from the LSE, JSE and OTCQX after agreeing to a £174.5 Million takeover by FS Africa.[12][13] FS Africa a bid vehicle that is controlled by Swiss billionaire Thomas Schmidheiny and Rainer-Marc Frey.[14][15]

See also[edit]

References[edit]

  1. ^ "Lonrho Plc's Strategy & Vision". Retrieved 29 October 2012. 
  2. ^ a b "1988 - Directory of the worlds largest Companies: Lonrho PLC - Corporate information" (PDF). The United Nations Centre on Transnational Corporations. 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". http://www.fundinguniverse.com/. 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). http://www.shareview.co.uk/. 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 2014-04-05. 
  10. ^ Fly 540 Africa Website, viewed 30 April 2014, http://www.fly540africa.com/
  11. ^ "Fastjet plc 2013 Annual Report" (PDF). Fastjet plc. 31 December 2013. Retrieved 2 December 2014. 
  12. ^ Osborne, Alistair (15 May 2013). "Lonrho bows out after sale to Swiss investors for £175m". The Telegraph. Retrieved 6 December 2014. 
  13. ^ "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. 
  14. ^ "Takeovers" (PDF). http://www.investorschronicle.co.uk/. Investors Chronicle. 7 June 2013. Retrieved 6 December 2014. 
  15. ^ Allix, Mark (15 May 2013). "FS Africa to buy Lonrho for £175m". http://www.bdlive.co.za/. Business Day Live. Retrieved 6 December 2014.