	brent to buy lonrho division proposes rights brent walker group plc said it had agreed to buy the group of companies comprising lonrho plc s lrho l metropole casino division together with a freehold in central london for mln stg payment will be in cash on completion except for three mln stg payable on december brent said it also proposed to raise about mln stg net through the issue of mln convertible shares at one stg each the shares can be converted between and at the rate of four ordinary shares for every convertibles held on full conversion the issued ordinary share capital of the company would increase by some pct birdcage walk ltd a company controlled by the walker family owns pct of the shares and is entitled to mln convertible shares under the offer the trustees had indicated that it intended to sell enough of the convertibles nil paid to enable it to take up the remainder brent would buy the casino companies and the freehold of park lane in london under the arrangements it would also arrange for the repayment of mln stg in inter company debt brent walker shares firmed sharply on the announcement to p from p at friday s close while lonrho also firmed to p from p reuter 
