Tom Ford Fashion House Is Driving Zegna s Luxury Expansion bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Designer Zegna to Go Public in SPAC Deal Worth $3.2 Billion
Bloomberg 15 hrs ago Angelina Rascouet
(Bloomberg) Ermenegildo Zegna is listing its shares via a $3.2 billion deal with a blank-check company, letting the Italian fashion house join other luxury brands tapping investor cash while keeping the founding family in control.
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Zegna said Monday it will raise $880 million by combining with Investindustrial Acquisition Corp., a special-purpose acquisition company whose chairman is Sergio Ermotti, former chief executive officer of UBS Group AG. The Zegna family will control 62% of the combined entity and the shares will trade on the New York Stock Exchange.