Moncler May Hold IPO ‘Before Summer,’ De Benedetti Tells Sole
The Carlyle Group may hold an initial public offering of luxury sportswear maker Moncler “before the summer,” Marco De Benedetti, head of the private- equity firm’s business in Italy, told Il Sole 24 Ore.
De Benedetti favors an IPO over a sale to a rival, the financial newspaper quoted him as saying in an interview. Moncler may be valued at multiples similar to those of Tod’s SpA and Burberry Group Plc, which trade at 10 to 12 times 2011 earnings before interest, taxes, depreciation and amortization, he told Il Sole. Ebitda for 2010 was more than 100 million euros, the newspaper said, citing market speculation.
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