O’Reilly and son may net €224m

THE sale of Swiss electronics company Landis+Gyr to giant Japanese group Toshiba for $2.3 billion (€1.6bn) could net Tony O’Reilly and his son Cameron as much as €224 million.

Landis chief executive Cameron O’Reilly holds an estimated 7% equity stake in Landis and it is believed his father has a similar holding.

Since 2004 Landis has been owned by an investment group called Bayard Capital, which was established in Australia by Cameron O’Reilly to move into the green energy space with an initial investment, believed to be no more than US$50,000 at the time.