Announced
Financials
Tags
fashion brand
Friendly
Italy
Domestic
apparel products
Pending
Majority
Single Bidder
Apparel Retailers
Acquisition
Private
Private Equity
Synopsis
Moncler, an Italian luxury fashion brand, agreed to acquire Stone Island, a maker of high-end sportswear, from Temasek and Carlo Rivetti for $1.39bn. The deal is expected to close by the first half of 2021. Moncler will acquire 50% from owner and Chief Executive Carlo Rivetti and a further 19.9% from other members of his family. Carlo Rivetti and his family will subscribe for an amount equal to 50% of the consideration, or 10.7m new Moncler shares, at a set price of $44 per share. Moncler then will acquire the further 30% from Temasek, a Singapore’s state investor.
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