Singapore $324 Billion Temasek (via Venezio Investments) Buys Additional $126.4 Million of Shares in Italy Luxury Brand $2.1 Billion Ermenegildo Zegna (14.1 Million Shares at $8.95 Per Share via Zegna Treasury Shares), Temasek Owns 10% of Ermenegildo Zegna with 26.8 Million Shares, Temasek Head of EMEA Nagi Hamiyeh Expected to be Appointed as Board Director at Next AGM
31st July | Hong Kong
Singapore $324 billion Temasek (via Venezio Investments) is buying additional $126.4 million of shares in Italy luxury brand Ermenegildo Zegna ($2.1 billion market value), with 14.1 million shares at $8.95 per share via Zegna treasury shares). Temasek will own 10% of Ermenegildo Zegna with 26.8 million shares, post-transaction. Temasek Head of EMEA Nagi Hamiyeh is expected to be appointed as Board Director at the next Zegna AGM. In 2021, Italy luxury brand Ermenegildo Zegna IPO on NYSE (New York Stock Exchange) in a $2.5 billion SPAC merger with Investindustrial Acquisition Corp. The Zegna family raised $880 million and retained control with 62% shareholding in the merged entity, with enterprise value of $3.1 billion and market capitalization of $2.4 billion. Ermenegildo Zegna Group – Founded in 1910 in Trivero, Italy, the Ermenegildo Zegna Group (NYSE:ZGN) is a global luxury company with a leading position in the high-end menswear business. Through its three complementary brands, the Group reaches a wide range of communities and market segments across the high-end fashion industry, from ZEGNA’s timeless luxury to the modern tailoring of Thom Browne, to seductive elegance with TOM FORD FASHION. The Ermenegildo Zegna Group is internationally recognized for its unique Filiera, owned and controlled by the Group, which is made up of the finest Italian textile producers fully integrated with unique luxury manufacturing capabilities, to ensure superior excellence, quality and innovation capacity. The Ermenegildo Zegna Group has more than 7,100 employees and recorded revenues of €1.95 billion in 2024. Temasek – Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$434 billion (€299b) as at 31 March 2025. Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. Temasek seeks to build a resilient and forward-looking portfolio that will deliver sustainable returns over the long term. It has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.
“ Singapore $324 Billion Temasek (via Venezio Investments) Buys Additional $126.4 Million of Shares in Italy Luxury Brand $2.1 Billion Ermenegildo Zegna (14.1 Million Shares at $8.95 Per Share via Zegna Treasury Shares), Temasek Owns 10% of Ermenegildo Zegna with 26.8 Million Shares, Temasek Head of EMEA Nagi Hamiyeh Expected to be Appointed as Board Director at Next AGM “
Italian Luxury Brand Ermenegildo Zegna Goes Public on NYSE in $2.5 Billion SPAC Merger
22nd July 2021 – Italian luxury brand Ermenegildo Zegna is going public on NYSE (New York Stock Exchange) in a $2.5 billion SPAC merger with Investindustrial Acquisition Corp in Q4 2021 (18/7/21). The Zegna family will raise $880 million and retain control with 62% shareholding in the merged entity, with an anticipated enterprise value of $3.2 billion and expected market capitalization of $2.5 billion.
SPAC (Special Purpose Acquisition Company) is also popularly referred to as a blank cheque company, that allows the listed company without any existing businesses to raise capital through an IPO (initial public offering), and thereafter use the capital to invest into companies.
Ermenegildo Zegna, SPAC Merger Q4 2021
Ermenegildo Zegna is founded in 1910, and evolved from producer of textiles and menswear into a leading global luxury group. In 2018, Zegna acquired majority stake in American luxury fashion brand Thom Browne. In 2020, Zegna Goup has a presence in 80 countries through 296 directly operated stores.
The $2.5 billion SPAC merger is expected to close in Q4 2021, with UBS Investment Bank as the exclusive financial advisor to Zegna and Deutsche Bank, Goldman Sachs, UBS SE – Succursale Italiana, JP Morgan and Mediobanca are advisors to Investindustrial Acquisition Corp. Investindustrial Acquisition Corp is a newly incorporated blank check company and is listed on New York Stock Exchange and Investindustrial is a leading European group with $12.95 billion raised fund.
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Zegna Group CEO Ermenegildo “Gildo” Zegna:
“Over 111 years ago, my grandfather and namesake founded Zegna with the belief that caring for both the natural environment and for people was the bedrock for creating the finest textiles and a successful brand. Since then, we have proudly followed in his footsteps to become one of Italy’s true luxury houses. Today’s announcement underscores the success of our strategy of continuously focusing on the Group’s brand equity while also continuing to build upon our heritage, our ethos of sustainability, and the unique craftsmanship that has made our name synonymous with quality and luxury around the world. The Zegna family will remain at the Company’s helm following the transaction’s completion, and we will continue to invest in creativity, innovation, talent, and technology in order to sustain Zegna’s leadership position in the global luxury market.”
Andrea C. Bonomi, Founder of Investindustrial and Chairman of the Industrial Advisory Board:
“For over thirty years, Investindustrial has invested in and supported both growing and leading Italian brands. We believe in the strength of Made in Italy, which has always been recognized worldwide for quality, craftsmanship, and innovation. With Zegna we identified a group that also includes both a strong family heritage and a leading position in sustainability – one of the pillars in Investindustrial’s investment strategy. We are supporting the Zegna Group with a long-term commitment and a significant investment to back the Company’s ongoing expansion and growth, with the goal of spreading Zegna’s unparalleled heritage and luxury craftmanship more broadly to customers around the world.”
Sergio Ermotti, Chairman of Investindustrial Acquisition Corp:
“Our special purpose acquisition corporation was created for transactions like this one: taking public a well managed company with strong fundamentals and growth potential like Zegna. Our goal now is to support Zegna in this important new chapter of its history while opening the opportunity to the public to invest in one of the last great iconic independent luxury brands.”
Related:
- Grab $39.6 Billion SPAC IPO Delayed to Q4 2021, Pending Accounts Clearance
- Southeast Asia Grab Goes Public on Nasdaq at $39.6 Billion Valuation with SPAC Merger
- Singapore Exchange Seeks Feedback on SPACs Listing at SGD 300 Million Market Capitalization
- WeWork Goes Public at $9 Billion Valuation with SPAC Merger
- Facebook co-Founder Eduardo Saverin B Capital Creates SPAC to Raise $300 Million on NASDAQ
About Investindustrial Acquisition Corp.
IIAC is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The Company is sponsored by Investindustrial Acquisition Corp. L.P. (the “Sponsor”), a limited partnership whose majority investor is an independently managed investment subsidiary of Investindustrial VII L.P..About Investindustrial Acquisition Corp. IIAC is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The Company is sponsored by Investindustrial Acquisition Corp. L.P. (the “Sponsor”), a limited partnership whose majority investor is an independently managed investment subsidiary of Investindustrial VII L.P.
About Investindustrial
Investindustrial is a leading European group of independently managed investment, holding and advisory companies with €11 billion of raised fund capital. With ESG principles deeply embedded into the Firm’s core approach, Investindustrial has a 30-year history of providing mid-market companies capital, industrial expertise, operational focus, and global platforms to accelerate sustainable value creation and international expansion. Additional information is available at www.investindustrial.com.
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