×
84
Fashion Jobs
PUMA
Head of Marketing Nordic
Permanent · Stockholm
PUMA
Key Account Manager Sportstyle
Permanent · Stockholm
PUMA
Strategic Key Account Manager Sportstyle Prime-Select
Permanent · Stockholm
H&M
Software Engineer, With c# .Net or Java Experience to h&m Business Tech
Permanent · Stockholm
RITUALS
Senior Account Manager Wholesale Nordics
Permanent · Stockholm
H&M
Software Engineer, With Java Competence to h&m Business Tech – Loyalty Online Service Team
Permanent · Stockholm
H&M
Technical Engineer Within Azure, Network And Storage Skillset to h&m Business Tech
Permanent · Stockholm
H&M
HR Manager Within Supply Chain, Sweden
Permanent · Stockholm
H&M
Software Engineer, With Java Competence to h&m Business Tech – Core Customer Assets
Permanent · Stockholm
H&M
HR Business Partner to h&m Marketing & Communication
Permanent · Stockholm
H&M
Business Expert With HR And Data Focus to Business Tech, h&m Group
Permanent · Stockholm
H&M
Business Controller to h&m Expansion
Permanent · Stockholm
H&M
Business Controller to Assortment
Permanent · Stockholm
UNIQLO
Loss Prevention Responsible
Permanent · GOTHENBURG
H&M
Technical Engineer to The Global Connectivity Team Within Business Tech
Permanent · Stockholm
PUMA
Teamhead Sports Marketing Manager Nordic
Permanent · Stockholm
PUMA
Brand Manager Nordic
Permanent · Stockholm
H&M
Technical Engineer to h&m Business Store Engagement & Presence Team
Permanent · Stockholm
H&M
Cross Functional Business Expert to Business Tech
Permanent · Stockholm
H&M
Business Expert to Colleague And Corporate Support - Business Tech, h&m Group
Permanent · Stockholm
H&M
Competence Lead Data Analyst to h&m Business Tech - Customer Domain
Permanent · Stockholm
H&M
Cross Domain Integrations Software Engineer to Business Tech
Permanent · Stockholm
Published
Feb 24, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Moncler acquires remaining 30% of Stone Island

Published
Feb 24, 2021

Moncler, the Italian luxury brand famous for its iconic down jackets, announced on Tuesday that it has entered into an agreement with Venezio Investments Pte. Ltd., a wholly owned subsidiary of Temasek Holdings Private Ltd. to acquire the remaining 30% stake of the Stone Island brand’s parent group, Sportswear Company S.p.A. (SPW), for 345 million euros.


Moncler first announced the acquisition of Stone Island in December 2020 - Instagram: @stoneisland_official

 
In December of last year, Moncler revealed that it would be acquiring a 70% stake in SPW from Stone Island CEO Carlo Rivetti’s Rivetex S.r.l., as well as from other members of the Rivetti family, including Alessandro Gilberti, Mattia Riccardi Rivetti, Ginevra Alexandra Shapiro and Pietro Brando Shapiro.
 
With this transition now signed off on, the purchase of Temasek’s share will see Moncler acquire 100% of SPW. Altogether, the deal values Stone Island at €1.15 billion and is expected to close on March 31, 2021.

Moncler has called an extraordinary shareholder meeting on March 25 in order to vote on a proposed capital increase reserved for Temasek and the Rivetti shareholders.
 
When the deal closes, the Rivetti shareholders and Temasek will subscribe an amount equal to 50% of the consideration of the deal. This will be done via the subscription of share capital increases of 402.5 million euros and 172.5 million euros, respectively.
 
The Rivetti shareholders will receive 10.7 million shares, while Temasek will receive 4.6 million, for a total of 15.3 million, all priced at 37.51 euros per share – the average share price over the last three months.
 
The newly issued shares will be subject to a lock-up restriction for 12 months after their subscription. 50% of them will also be subject to this restriction for a further six months.
 
Furthermore, Ruffini Partecipazioni Holding S.r.l., which is owned by Moncler CEO Remo Ruffini, has established an agreement with the Rivetti shareholders and Temasek, which will see them transfer their newly issued Moncler shares to the holding company, which owns a 22.5% stake in the Italian luxury brand. This is intended to support the integration of the two companies.
 
When the deal was first announced last December, Moncler and Stone Island said that they intended to develop a new luxury vision that will allow them to reach out to new generations of customers.
 
Stone Island is also expected to benefit from its new owner’s support to develop its presence in key markets in Asia and the Americas, as well as to grow its direct-to-consumer capacities.

Copyright © 2021 FashionNetwork.com All rights reserved.