Fifteen million shares of Moncler were divested through Eurazeo’s ECIP M subsidiary through an accelerated book building to institutional investors. As a result, ECIP M will own a 9.5 percent stake in Moncler, and Eurazeo’s economic interest in the Italian luxury firm will amount to 7.9 percent of the capital.
From the sale, Eurazeo netted proceeds of around 190 million euros, or $213.1 million. Dollar figures are converted at current exchange.
Goldman Sachs International managed the placing, while Lazard acted as Eurazeo’s financial advisor.
Paris-based Eurazeo first became a shareholder of Moncler in 2011. In May, the investment firm sold a 7.8 percent stake in the label.
“Moncler continued to excel in the first half of 2016, again posting one of the best sector performances in an evidently more volatile context,” stated Virginie Morgon, deputy chief executive officer of Eurazeo. She added the fashion brand “still has major growth potential.”
As reported, in the six months ended June 30, Moncler’s net profits inched down 1.1 percent to 33.6 million euros, or $37.6 million at average exchange. The company’s revenues in the period rose 17 percent to 346.5 million euros, or $388 million.
In July, Moncler secured two additional shareholders: Singapore investment company Temasek and Juan Carlos Torres, investor and chairman of the leading travel-retail group Dufry. Moncler’s main stakeholder is Ruffini Partecipazioni Srl, which is controlled by Moncler chairman and ceo Remo Ruffini.