Thomas Schmidheiny joins Landis+Gyr
Published: Thursday, Jul 4th 2024, 07:50
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Electricity meter manufacturer Landis+Gyr has a new major shareholder in the form of the investment company Spectrum Entrepreneurial Ownership (SEO) owned by investor Thomas Schmidheiny. SEO has acquired a 5 percent stake from Kirkbi Invest, a company owned by Lego founder Kirk Kristiansen, making it the second-largest shareholder behind Rudolf Maag.
Fabian Rauch, the co-founder and Managing Partner of SEO, is now to be elected as a new member of the Board of Directors at an Extraordinary General Meeting, Landis+Gyr announced on Thursday. However, the representative of Kirkbi, Peter Bason, intends to step down at the date of this AGM.
SEO, which was set up by former Holcim patron Thomas Schmidheiny, says it manages the money of several family offices, pension funds and institutional investors. SEO also holds major stakes in listed companies in Switzerland, such as Dormakaba and U-Blox.
Kirkbi Invest had already reduced its stake in Landis+Gyr in February and placed shares with institutional investors as part of an accelerated bookbuilding process.
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