FRANCE — Eurazeo sells another stake in French apparel company Moncler.
In July 2016, DM Fashion Book reported that the main shareholder of French apparel manufacturer and lifestyle brand Moncler announced that it had secured an agreement with two long-term investors to grow the footprint of the Milan-based brand. Ruffini Partecipazioni, which currently owns 32% of Moncler, said it would place its stake in the group in a new company that it would fully own in a first stage. Singapore-based Temasek and Juan Carlos Torres, a shareholder and Chairman of travel retail group Dufry, would then buy a 24.4% stake in the new company. Clubsette, an investment vehicle owned by Tamburi Investment Partners and which owns 14 percent of Ruffini Partecipazioni, will exchange it for a 5.1% direct holding in Moncler, the statement said (see it here).
In September 2016, we learned that French investment company Eurazeo announced that it has sold a 6% interest in luxury label Moncler, for a value of approximately €230 million ($257.55 million). In a press release, Eurazeo stated that, as part of a fast-track placement with institutional investors, it sold 15 million shares at a price of €15.34 per share, through its subsidiary ECIP M (see it here).
Today Thursday (October 26) Eurazeo announced that it had sold another 3.34% stake in Moncler, for approximately €208 million. In a press release, Eurazeo stated that, as part of a fast-track placement with institutional investors, it sold 8.5 million shares at a unit price of €24.48, through its subsidiary ECIP M.
“The net proceeds from the sale for Eurazeo were €188 million, equivalent to approximately 6.7 times the firm’s initial investment in the operation,” said Eurazeo.
After the latest operation, ECIP M will hold a 5.31 % stake in Moncler, while Eurazeo‘s economic interest will reach 4.79 % of the capital.
“The stock’s remarkable market appreciation led us to sell part of our stake today, as part of the dynamic management of our portfolio,” stated in the press release Virginie Morgon, General Manager of Eurazeo.
As noted by Virginie Morgon, “we are confident about the brand’s long-term appeal and the talent of its staff, who are constantly broadening their horizons while staying true to Moncler’s unique DNA.”
Moncler recently published its quarterly results, posting a 15% revenue growth to reach nearly €736.8 million in the first nine months of the year.
Photos Credit: Indigital.tv