News: Deals: Reports

Arnott Panels(Pty)Ltd & Lonrho PLC	Update Date: 05/19/08
Date Announced: 05/13/08
Value (million $USD): 1.6 million U.S. Dollar 12.3 million South African Rand

Status: Pending

TRANSACTION DETAILS
Date Announced	05/13/08
Date Originally Announced	05/13/08
Format	Acq. Rem. Int.	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	1.6 million U.S. Dollar 12.3 million South African Rand	Advisor Fees	n/a

SYNOPSIS
SOUTH AFRICA - Lonrho PLC (LP) of the UK agreed to acquire the remaining 49% stake, which it did not already own, in Arnott Panels (Pty) Ltd (AP), a Somerset West-based manufacturer of cold storage units, for 12.25 mil South African rands (0.831 mil British pounds/$1.617 mil US). Concurrently, LP agreed to acquire a 51% interest in AP.

TARGET
Name	Arnott Panels(Pty)Ltd
Industries	Special warehousing and storage, nec
City	Somerset West
State	n/a
Nation	South Africa
Incorporated in	n/a
Public Status	Private
Business Description	Arnott Panels (Pty) Ltd, located in Somerset West, South Africa, manufactures cold storage units for the food processing, storage and other industries. The group's products include community phone shops, BTS equipment shelters, Pre-fabricated modular buildings and cold rooms and process plants. The group also manufactures insulated panels for use in modular housings, clinics, offices and classrooms. The company was founded in 1992.
Advisors	NULL
Target Sales	7.1 million U.S. Dollar 51.6 million South African Rand

ACQUIROR
Name	Lonrho PLC (London AIM : LONR)
Industries	Offices of holding companies, nec
City	London
State	n/a
Nation	United Kingdom
Incorporated in	n/a
Public Status	Public
Business Description	Lonrho PLC, based in London, UK, is an investment holding company with interests in the infrastructure, mining, oil and gas, hotels and leisure and agribusiness sectors across Africa. The company was founded in 1909.
Advisors	NULL
Acquiror Sales	22.9 million U.S. Dollar 11.2 million British Pound

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