March 20, 2019 / 7:14 AM / 4 months ago

French investment group Eurazeo sells stake in Italy's Moncler

PARIS, March 20 (Reuters) - French investment group Eurazeo has sold its entire stake in Italian luxury clothes company Moncler for around 445 million euros ($505 million).

Eurazeo said on Wednesday that it sold just over 12 million Moncler shares - representing around 4.8 percent of Moncler’s share capital - at 36.50 euros per share, compared with Moncler’s closing stock price of 37.05 euros on March 19.

Investment banks Bank of America Merrill Lynch, Citigroup and Lazard all worked on Eurazeo’s stake sale.

$1 = 0.8816 euros Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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