07/21/2021 | Press release | Distributed by Public on 07/21/2021 08:12
Shearman & Sterling represents placement agents in PIPE in connection with Ermenegildo Zegna's business combination with Investindustrial Acquisition. Ermenegildo Zegna Group, a global luxury fashion house, has entered into a business combination agreement with Investindustrial Acquisition, a publicly listed special purpose acquisition company led by Chairman Sergio Ermotti, in a transaction valuing the combined company at $3.2 billion. The transaction was announced on July 19th.
The transaction is expected to deliver up to approximately $880 million in gross proceeds, including a $250 million PIPE. The business combination is expected to close in the fourth quarter of 2021, subject to customary closing conditions and approval by IIAC shareholders.
The Shearman & Sterling team below included Geeth Makepeace.