Eurazeo to divest 12% stake in Moncler IPO

The listed private equity firm currently owns 32.3% of Moncler, according to its website. Moncler, which is also backed by Carlyle Group and Progressio Investimenti, has priced its listing on the Mercato Telematico Azionario (MTA) at €8.75-10.20 per share.

The public offering period will begin on 28 November and should end on 11 December. The final IPO price should be set by 13 December and trading of Moncler shares on the MTA could start on 16 December at the earliest.

The listing could value the firm at more than €2.5bn, which would make the flotation the largest in the European luxury sector this year and the first listing of an Italian private-equity backed firm since Moleskine in March this year.

However, the IPO is some way off the largest European listing of the year, which occurred earlier this month when Blackstone and CVC-backed Merlin Entertainments listed on the London Stock Exchange with shares priced at £3.15, valuing the business at £3.2bn.

Eurazeo acquired a 45% stake in Moncler in 2011 in a deal that gave the group an enterprise value of €1.2bn, or 12x EBITDA. The transaction saw existing shareholders Carlyle and the firm's chairman and creative director reduce their stakes in the company to 17.8% and 32% respectively. Mittel retained a 5% stake.

Click here for more background on the Moncler IPO

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Consumer
• Southern Europe
• Italy
• IPO
• Eurazeo