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France's Eurazeo sells off stake in Moncler for €445M

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France's Eurazeo sells off stake in Moncler for €445M

French private equity firm Eurazeo SE said March 20 that it has sold off its remaining shares in Italian apparel company Moncler SpA for €445 million.

Eurazeo sold all 12,199,626 of its shares in Moncler, representing 4.8% of the Milan-based company's shareholding, at €36.5 each.

The Paris-based investment firm said its eight-year investment in Moncler generated proceeds of €1.4 billion.

Eurazeo first invested in Moncler in June 2011, acquiring a 45% stake in the company, worth about €930 million.

BofA Merrill Lynch and Citigroup Global Markets Ltd. acted as joint book runners in the sale of the shares, while Lazard Frères acted as financial adviser to Eurazeo.

Moncler's biggest investor is Ruffini Partecipazioni Srl, owned and controlled by the company's Chairman and CEO Remo Ruffini. Moncler also counts BlackRock Inc., Morgan Stanley Investment Management Inc. and Norges Bank Investment Management as its top investors.