MILAN – Eurazeo SA on Thursday confirmed the sale of 19.5 million shares in Moncler SpA, through its subsidiary ECIP M.

The sale, first revealed Wednesday evening, represents about 7.8 percent of the company’s capital. As a result, ECIP M will own a 15.5 percent stake in Moncler and Eurazeo’s economic interest will amount to 13 percent of capital. Paris-Based firm Eurazeo first became a shareholder of Moncler in 2011.

That stake in the luxury firm is valued at about 340 million euros, or $383.2 million at current exchange rate. Eurazeo netted proceeds from the sale of around 280 million euros, or $315.6 million. The offering will be settled on Monday.

“Moncler’s unique positioning in its industry and its outstanding operational performance resulted in a strong valuation of its share price in recent weeks, which allowed us to sell around a third of our stake under very good conditions,” said Virginie Morgon, deputy chief executive officer of Eurazeo. “We are convinced that Moncler still has strong potential to develop its network of stores and its product offering and for geographic expansion. We have full confidence that [chairman and chief executive officer] Remo Ruffini and his teams will continue its fantastic growth and we look forward to supporting them.”

Eurazeo will retain its three members on the board of directors.

ECIP M has agreed to a 90-day lock-up on the shares held in Moncler.

On Thursday, Moncler shares closed down 2.94 percent to 17.17 euros, or $19.35. A day earlier, the brand’s stock had closed up 9.1 percent to 17.69 euros, or $20.08, on the back of the company having reported a 69 percent surge in its first-quarter net income to 39.6 million euros, or $43.2 million at average exchange rate.

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