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.