Lonrho
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| Private | |
| Traded as | LSE: LONR |
| Industry | Investments |
| Founded | 1998 |
| Headquarters | London, UK |
| Revenue |  £ 206.5 Million (2013) |
| Total assets |  £ 328.5 Million (2013) |
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Number of employees
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3,415 (2013) |
| Website | Homepage |
Contents
Overview
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
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
References
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- ↑ Fly 540 Africa Website, viewed 30 April 2014, http://www.fly540africa.com/
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