Moncler Acquires the Remaining 30% of Stone Island - SolidRumor.com

Moncler Acquires the Remaining 30% of Stone Island

 Moncler Acquires the Remaining 30% of Stone Island

Stone Island. Courtesy.

The deal, first announced in December of last year, will give Moncler the entire share capital of Stone Island and its parent Sportswear Company S.p.A. (SPW). The final 30 percent of the purchase is worth around €345 million ($419 million). Per an agreement between Moncler and Stone Island, the Italian sportswear brand was valued at €1.15 billion ($1.4 billion).

The transaction is expected to close by March 31, 2021, awaiting approval from the proper regulatory authorities and Moncler’s shareholders.

The stakes purchased by Moncler were primarily held by Stone Island chief executive Carlo Rivetti and his family. Pending board review at a meeting set for March 25, 2021, the Rivetti family and Singapore-based holding company Temasek Holdings Ltd. (which owned a 30 percent stake in Stone Island prior to the Moncler acquisition) will receive an amount equal to 50 percent of the consideration through share capital. Following the conclusion of the acquisition, Temasek and the Rivetti shareholders will receive 1.7 and 3.9 percent of Moncler’s share capital, respectively. Temasek and Rivetti shareholders will then reinvest all of their newly-issued shares to Ruffini Partecipazioni S.r.l., a holding company owned by Moncler chief executive Remo Ruffini.

Add Comment