Eurazeo speeds up divestment in Moncler: sells 6 percent worth of shares

French investment company Eurazeo announced earlier this week it had sold 6 percent of its stake in luxury clothing maker Moncler for about 230 million euros.

As explained by the company in a statement, this move is part of Eurazeo´s accelerated placement with institutional investors. As such, Eurazeo used its subsidiary ECIP M to sell 15 million shares at a price of 15.34 euros apiece.

The net proceeds of this sale was approximately 190 million euros, reported ‘Le Figaro’. "The operation performed today is part of the dynamic management of Eurazeo's portfolio," said Virginie Morgon, executive director of the company, quoted in the disclosure note.

After the operation, ECIP M will own 9.5 percent stake in Moncler, giving Eurazeo control over a 7.9 percent of the luxury clothing company’s capital. "We are convinced that the company still has significant growth potential both because the strength of its brand and its unique position within its segment” said the company in its filing to the French market regulator.

Moncler made a triumphant debut on the Milan Stock Exchange in late 2013 and is one of Eurazeo's growth engines.