Carlyle sells stake in Moncler for 215 million euro

Carlyle Group has sold off its entire 7.13 percent stake in luxury Italian outerwear company Moncler, for 215 million euros, or 172

million pounds according to current exchange rates, as French investment firm Eurazeo, Moncler's largest independent shareholder, revealed its ongoing support.

Eurazeo, which currently holds a 23.3 percent stake in Moncler after selling offer part of its holding during the company's stock floatation in December, stated on Friday its plans to remain a long-term shareholder in the group, reported Reuters.

“Eurazeo...reaffirms its confidence and support to Moncler's management to implement its growth and development strategy,” read a note from the firm. Carlye's sale was after the end of a 180 day lock up period, during which Moncler's main three shareholders where not allowed to sell their holdings in the luxury Italian company.

Carlyle, previously held its Moncler holding through CEP III Participations and is said to have sold the shares at 12.04 euro each, which is a 0.5 percent discount compared to the stock’s closing price on Thursday.