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Eurazeo, Remo Ruffini, Carlyle and Brands Partners 2 have reached an agreement for Eurazeo to acquire a 45% stake in Moncler, the luxury apparel group, for a price of EUR418m. Remo Ruffini, the Chairman and Creative Director, will retain a 32% stake in the Company and Carlyle a 17.8% stake.
The Moncler Group manages five brands: Moncler, Henry Cotton’s, Marina Yachting, Coast Weber & Ahaus and a 18CRR81 Cerruti licence. Founded in 1952 in Grenoble, as a technical brand rooted in the iconic down jacket, Moncler is today one of the leading brands in luxury outerwear. Moncler has a network
The Jones Group Inc has acquired Kurt Geiger, Europe’s largest luxury shoe retailer based in the United Kingdom, from Graphite Capital, a leading UK mid-market private equity firm, for approximately USD350 million (or GBP215 million) in cash, inclusive of debt acquired. The transaction, which was financed with cash on hand, is expected to be immediately accretive to earnings per share, exclusive of any required purchase accounting adjustments.
The acquisition of Kurt Geiger positions Jones as one of the world’s most powerful portfolios of fashion footwear, immediately increasing its international penetration to just below 20 percent of net revenues. In addition,
Christian Georges, Industrial Sectors Strategist at Olivetree Securities, comments on Fiat’s purchase of the US Treasury’s 6% stake in Chrysler…
“The announcement is great news for Fiat shareholders on their way to the target share price of €8 and above. Sergio Marchionne was keen to proceed with the purchase quickly and to boost his stake in Chrysler to about 60% post the summer as “the more we wait the more we will pay for it”. Hence higher profits at Chrysler in coming quarters, reflecting the sharp reduction of financial discounts in the US market, would have translated into a higher price
The Aureos Africa Fund has sold its stake in Deli Foods, the Nigerian biscuit manufacturer which makes biscuits for its own local brands as well as under license for United Biscuits’ McVities. The company, which operates a factory in Lagos, has been sold to Tiger Brands of South Africa.
Aureos Capital is a private equity fund management company specialising in investing in small and medium sized businesses in emerging markets. This transaction is the first exit for the USD381.1 million Aureos Africa Fund.
Jacob Kholi (pictured), Managing Partner for Aureos West Africa, says: “We are delighted to have achieved an exit
Andrew Given, former partner with PricewaterhouseCoopers (PwC), has joined growth equity firm General Atlantic (GA) as a Senior Vice President. In this role, Given will provide financial expertise to the firm and its portfolio companies as part of its global Resources Group, with specific focus on GA’s investments in Europe.
GA’s Resources Group consists of several experienced executives who provide functional expertise to the firm’s investment teams and portfolio companies in a number of areas including technology, finance, operations, global delivery and human capital. GA’s investment strategy is characterised by its active value-added approach to building growth companies in partnership
The estimated market value of venture capital-financed companies in the US rose 19% in 2010’s fourth quarter and 23% for 2010, according to the Dow Jones US Venture Capital Index. The index’s performance topped the Dow Jones US Total Stock Market Index’s gains of 12% and 17%, respectively, over the same time periods.
The rise in the Dow Jones US Venture Capital Index for 2010 (based on back-testing) marks the second consecutive year in which valuations of, and the amounts invested in, venture capital-financed companies posted gains over to previous years.
Venture capitalists invested USD28.5 billion in 2,874 deals in
The Emergo Group has launched Emergo Ventures, the new venture capital investment organisation within the Emergo Group. Emergo Ventures will provide start-up or growth capital to businesses with innovative offerings addressing unmet needs in almost any sector.
Emergo Ventures will aim to identify and invest in businesses that have a thorough understanding of consumers and which have a unique and innovative way to address their needs.
"We are looking for businesses that will become market leaders in clearly defined sectors by providing novel solutions to unmet customer needs. We want to build upon the experience of the Emergo Group and
Media investment specialist Ingenious Group has appointed Neil Forster (pictured) as its Chief Operating Officer. Forster was previously the group’s Finance Director, with responsibility for all financial management and governance, having joined the company in 2008.
In his new role, Forster will maintain his responsibility for the group’s financial management whilst also overseeing operational and strategic implementation across Ingenious’ divisions.
Prior to joining Ingenious, Forster was Group Finance Director at Hat Trick Productions, one of the UK’s most successful producers of comedy, entertainment and drama programming. He has also held various senior finance roles within the European television business
Intertrust Group Holding SA (Intertrust) has completed the acquisition of Close Brothers (Cayman) Limited and Close Bank (Cayman) Limited, after having received all regulatory and other necessary approvals. Intertrust and Close Brothers Group Plc already signed the sale and purchase agreement on 18 March 2011.
All the activities of Close Brothers (Cayman) Limited and Close Bank (Cayman) Limited (together ‘Close Brothers Cayman’) will be fully rebranded into Intertrust as of 1 August 2011.
David Goldstein and Gerald Rokoff, both formerly with White & Case LLP, have joined DLA Piper as partners in New York. Goldstein joins the firm’s global Finance Group and will lead the Investment Funds Practice. Rokoff joins the Tax Group.
“With the addition of David and Jerry, DLA Piper deepens its investment funds bench and creates a significant opportunity to develop a holistic practice representing private equity and hedge funds in their most complex transactions,” says Roger Meltzer (pictured), Global Chair of DLA Piper’s Corporate and Finance Practice. “Their collective experience further enhances our full service approach to representing
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