Moncler acquires remaining 30% stake of Stone Island
Moncler has entered in to an agreement with Venezio Investments Pte. Ltd., a wholly owned subsidiary of Temasek Holdings Ltd., to acquire the remaining 30% stake of Stone Island’s parent group, Sportswear Company S.p.A. (SPW) for €345 million.
On December 7, 2020, Moncler revealed 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.
With this latest transition now signed off on, the purchase of Temasek Holdings’ share sees Moncler acquire 100% of SPW.
The transaction is expected to close by March 31, 2021, awaiting approval from the regulatory authorities and Moncler’s shareholders.
Pending a board review, at a meeting set for March 25, 2021, the Rivetti family and Temasek Holdings will receive 50% of the consideration through share capital.
Following the conclusion of the acquisition, 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.