Moncler buys out entire stake in Stone Island

Moncler has acquired the remaining 30 percent of the share capital of Sportswear Company S.p.A. (SPW) that owns the Stone Island brand, for a consideration equal to 345 million euros from Temasek. The company also signed an agreement for the purchase of the 70 percent stake held by Rivetex S.r.l. and the Rivetti family of SPW.

The company said in a statement that at the closing date, the Rivetti Shareholders and Temasek will subscribe an amount equal to 50 percent of the consideration of the above-mentioned sale through the subscription of a share capital increase for 402.5 million euros and 172.5 million euros. The Rivetti Shareholders and Temasek will receive newly issued Moncler shares equal to 5.601 percent of Moncler’s share capital valued at 37.51 euros per share.

The company added that Rivetti Shareholders and Temasek will contribute all their Moncler newly issued shares to Ruffini Partecipazioni, whose 87.2 percent share capital is currently held by RPH and 12.8 percent by Temasek.