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Moncler main owner brings in new investors to grow footprint
[MILAN] The main shareholder of Italy's Moncler said on Thursday it had reached an agreement with two long-term investors to grow the footprint of the luxury outerwear maker.
Ruffini Partecipazioni, which currently owns 32 per cent of Moncler, said it would place its stake in the group in a new company (newco) that it would fully own in a first stage.
Singapore-based Temasek and Juan Carlos Torres, a shareholder and chairman of travel retail group Dufry, would then buy a 24.4 per cent stake in the newco.
Clubsette, an investment vehicle owned by Tamburi Investment Partners and which owns 14 per cent of Ruffini Partecipazioni, will exchange it for a 5.1 per cent direct holding in Moncler, the statement said.
At the end of the operation the newco will own 26.8 per cent of Moncler and Remo Ruffini, chairman and CEO of Moncler, will remain the single largest and controlling shareholder, it said.
By 0718 GMT shares in Moncler fell 4 per cent.