Type Private Industry Investments Website Homepage Founder Tiny Rowland Number of employees 3,415 Parent organization BIH SA | Traded as LSE: LONR Total assets £ 328.5 Million (2013) Headquarters United Kingdom Founded 1998 Revenue 206.5 million GBP (2013) | |
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Subsidiaries Lonrho Agribusiness (BVI) Limited | ||
Lonrho is a London-based company conglomerate that is engaged in multiple business sectors in Africa mainly agribusiness, infrastructure, transport, hospitality and support services.
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History
Lonrho traces its roots from the original Lonrho plc (now Lonmin) a company was incorporated in the United Kingdom on 13 May 1909 as the London and Rhodesian Mining and Land Company Limited. Lonrho plc grew to be one of the world's largest companies with over 800 subsidiary companies in 80 countries.
Lonrho as we know it was formed on 26 February 1998 as a spin-off of Lonmin (at the time called "Lonrho") and it was then known as Lonrho Africa plc. The demerger transferred all non-mining African assets to the separate publicly listed Lonrho Africa plc 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.
Lonrho was one of the funding partners in low-cost airline Fastjet operating in Africa. 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.
In 2013, Lonrho plc was delisted from the LSE, JSE and OTCQX after agreeing to a £174.5 Million takeover by FS Africa. FS Africa a bid vehicle that is controlled by Swiss billionaire Thomas Schmidheiny and Rainer-Marc Frey.