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Eurazeo sells part of its stake in Moncler

Translated by
Nicola Mira
Published
today Oct 27, 2017
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On Thursday 26th October, French investment firm Eurazeo announced the sale of a 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.



Moncler is world-renowned for its down jackets - Instagram/Moncler


"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," wrote Eurazeo.

The French firm acquired an interest in Moncler in 2011, purchasing a 45% share, which it sold in part during the last few years, following the sportswear label's listing on the Milan stock exchange at the end of 2013. Since September 2016, Eurazeo only held a 9.5% share in the capital of the Italian label, which was originally founded in France.

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.

Last year, the investment firm traded nearly 6% of Moncler's capital for a sum in the region of €230 million, selling 15 million shares at a unit price of €15.34.

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.

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