Business Irish

Monday 16 September 2019

Haughey's son to net €10m from One4All sale

Conor Haughey. Photo: Steve Humphreys
Conor Haughey. Photo: Steve Humphreys
Donal O'Donovan

Donal O'Donovan

The eldest son of the late Taoiseach Charles J Haughey stands to net €10m from his share in the One4All gift card company following its sale.

Shareholders, including Conor Haughey and businessman Michael Dawson, along with managers at the voucher company are set to share a massive windfall from the sale.

The One4all gift card can be used at a multitude of participating retailers.

The An Post-controlled firm has now been sold in a deal valuing it at €100m to US technology investor Blackhawk.

State-owned An Post has a more than 53pc stake in Gift Voucher Shop, the company behind the One4All business. Other shareholders include early backer Mr Haughey, who has a 9.96pc stake.

The business got a boost two years ago when then finance minister Michael Noonan lifted a tax-free ceiling on gift vouchers that companies give their staff to €500 each.

Irish Independent

Also in Business