Information AboutLonrho |
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STRONG GROWTH For many years during the second half of the twentieth century it was frequently in the news, not only due to the politically-sensitive part of the world in which it had mining businesses, but also – as it strove to become a Conglomerate not wholly dependent on these businesses – in a number of takeover battles, most notably for the Harrods of Knightsbridge department store. At this time (from 1962 to 1994) it was led by the multi-millionaire businessman Tiny Rowland . SANCTIONS-BUSTING Sir Angus Ogilvy , married to a member of the British royal family ( Princess Alexandra Of Kent ), was a Lonrho director and this increased media interest in the company's affairs. Ogilvy's career ended when Lonrho was involved in a sanctions-busting scandal concerning trade with Rhodesia. Prime Minister, Edward Heath , criticised the company, describing it in the House Of Commons in 1973 as ''an unpleasant and unacceptable face of capitalism''. POST-ROWLAND Tiny Rowland was finally ejected from Lonrho in 1994 after a boardroom tussle with chairman Dieter Bock . Two months before Rowland's death (on July 26 , 1998 ) the assets of Lonrho were demerged. Two publicly listed companies, Lonrho Plc and Lonrho Africa Plc were created – the former retaining all the non-African businesses and mining assets. In 1999 Lonrho Plc was renamed as Lonmin Plc and a new era as a focused mining company began. Since then it has divested itself of all non-core assets. EXTERNAL LINKS |
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