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December 20, 2021updated 24 Dec 2021 7:45am

Italian luxury group Zegna completes merger with IIAC

The newly merged entity is to start trading on the NYSE under the new ticker symbol “ZGN” from 20 December.

Italian luxury fashion house Ermenegildo Zegna Group has completed its merger with special purpose acquisition firm Investindustrial Acquisition Corp (IIAC).

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Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The merger secured IIAC’s shareholders with over 97% voting in favour of the merger on 15 December 2021.

As part of the agreement, Zegna family will hold nearly 66% ownership in the merged entity, while IIAC will reportedly hold 11% stake and the remaining 27% to be available for investment.

The newly merged entity is set to list on the New York Stock Exchange (NYSE) and start trading under the new ticker symbol “ZGN” on 20 December.

It will have an initial enterprise value of $3.1bn, as well as an initial market capitalisation of $2.4bn.

The deal has raised approximately $761m in gross proceeds.

In addition, the brand launched a new logo and transition to which is expected to be completed by 2022.

Zegna Group CEO Ermenegildo “Gildo” Zegna said: “Today marks a monumental milestone for Zegna and is the beginning of an exciting and pivotal new chapter in our 111-year legacy. What began as a wool mill built by my grandfather has now become a publicly traded, modern luxury group with a one-of-a-kind manufacturing platform, sophisticated digital operations and global scale and reach.

“We are well positioned to accelerate the successful strategies of the Zegna Group’s two core brands, Zegna and Thom Browne, while also continuing to build upon our heritage, our ethos of sustainability, and the unique craftsmanship that has made our name synonymous with excellence and luxury around the world. We will continue to meet our clients’ changing needs while working to attract new, younger clients through exciting collaborations and digital innovation across the group.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.