Eurazeo sells 6% interest in luxury label Moncler

Investment company Eurazeo announced on Friday it has sold a 6% interest in luxury label Moncler, for a value of approximately €230 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.

The total value of the sale was approximately €230 million, yielding net proceeds in the region of €190 million. "Today's transaction is an example of Eurazeo's dynamic portfolio management," stated Virginie Morgon, the company's Deputy CEO, cited in the press release.

After the operation, ECIP M will hold a 9.5% stake in Moncler, while Eurazeo's economic interest will amount to 7.9% of the capital.

"We are indeed convinced that the company still harbours a significant growth potential, because of the strength of its brand, its unique positioning within the industry and the broadening of its range and geographical scope, as well as for the managerial talent of Remo Ruffini and his teams," added Morgon.

Moncler is renowned for its luxury down jackets. It was listed triumphantly on the Milan Stock Exchange at the end of 2013, and it is one of Eurazeo's growth vectors, among those companies in which it does not hold a majority stake.