Moncler Said to Pick Six Firms Led by Goldman, BofA to Run IPO

Moncler picked six securities firms led by Bank of America Corp. (BAC) and Goldman Sachs Group Inc. to manage an initial public offering as soon as this year, according to three people with direct knowledge of the plan.

The offering may raise 800 million euros ($1 billion) to 1 billion euros as investors sell 30 percent to 35 percent of the company, one person said. Mediobanca SpA (MB) will also be a global coordinator of the IPO, while Intesa Sanpaolo SpA (ISP), JPMorgan Chase & Co. (JPM) and UBS AG (UBSN) will be joint bookrunners along with the global coordinators, said the people, who asked not to be identified before the company makes an announcement.

Moncler is planning an IPO in Italy for the second time in two years, allowing French private-equity firm Eurazeo to reduce its stake after it bought 45 percent of the company in 2011 when the maker of ski jackets abandoned the earlier listing. The purchase, in which Eurazeo replaced Carlyle Group as Moncler’s largest investor, valued the clothier at no less than 1.2 billion euros.

An external spokeswoman for Eurazeo and a spokesman for Milan-based Moncler, Domenico Galluccio, declined to comment on the IPO plans.

Moncler may separate the luxury apparel brand from its other clothing businesses ahead of the IPO, Chairman Remo Ruffini said in an interview in October. In addition to selling $1,395 ski jackets and $995 handbags under the Moncler brand, Moncler also owns the Marina Yachting, Henry Cotton’s and Coast Weber & Ahaus sportswear labels, and holds the license for Cerruti 1881.

Photographer: Simon Dawson/Bloomberg

Moncler Chairman Remo Ruffini. Close

Moncler Chairman Remo Ruffini.

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Photographer: Simon Dawson/Bloomberg

Moncler Chairman Remo Ruffini.

Sales of the Moncler brand increased 35 percent to 489 million euros last year, and accounted for 78 percent of the total. Earnings before interest, tax, depreciation and amortization at the group level rose 39 percent to 170 million euros in 2012.

Officials for Bank of America, Goldman Sachs, JPMorgan, Mediobanca and UBS declined to comment. An official for Intesa couldn’t immediately be reached.

To contact the reporters on this story: Elisa Martinuzzi in Milan at emartinuzzi@bloomberg.net; Chiara Remondini at cremondini@bloomberg.net; Francesca Cinelli at fcinelli@bloomberg.net

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net

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