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 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 2 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 3 UK weather: Britain braced for snow as arctic air mass moves in
- 5 'Isis' schoolgirls: Missing British teenager tweets picture of her Syrian takeaway
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Ian Brady: Moors murderer announces his support for Ukip and the SNP
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
UK weather: Britain braced for snow as arctic air mass moves in
Power of Nepal earthquake was equivalent to 20 huge atomic bombs
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...
£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...