May 15 (Reuters) - British industrial group Lonrho Plc said it received a 174.5 million pound ($266.23million) buyout offer from FS Africa.
Lonrho said FS Africa offered to pay 10.25 pence per share,a premium of about 97.1 percent to its Tuesday's closing priceof 5.2 pence on the London Stock Exchange.
FS Africa, which holds 19.9 percent in Lonrho together withcertain parties, is a consortium comprising Rainer-Marc Frey andBIH SA, a vehicle controlled by Swiss billionaire ThomasSchmidheiny.