Bid for Lonhro Africa looks increasingly likely
Tuesday 09 June 1998
The sub-Saharan trading operation which demerged a month ago from Lonhro is a pounds 127m company which on Thursday will report a steep fall in first- half profitability.
Blakeney, founded eight years ago, is said to be an active manager of Soros funds and has become interested in the potential of Africa.
Blakeney last year took a 26 per cent stake in African Lakes, another African trading company in which Soros's Quantum Emerging Growth fund is said to have a holding.
In a statement to the stock exchange, Blakeney said: "We have looked at the publicly available documents relating to Lonhro and Lonhro Africa. We continue to assess Lonhro and Lonhro Africa's investment merits."
Lonhro Africa has an extensive portfolio, covering hotels, cotton, and motor distribution outlets in 14 countries. It owns 11 hotels and safari lodges in Kenya, Ghana and Mauritius.
Lonhro Africa was demerged from the parent group in a move to focus Lonhro on its mining activities.
The group had sales of pounds 554m in the year to September and produced profits of pounds 42.3m. Thursday's results could show that profits have fallen by half in the latest six-month period.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...