in a deal that is expected to give the fashion group a market capitalization of $2.5 billion. The Italian men’s wear giant entered into a business agreement with Investindustrial Acquisition Corp., a special purpose acquisition corporation, sponsored by investment subsidiaries of Investindustrial VII LP.
IIAC has raised total gross proceeds of $402.5 million in its IPO. The new PIPE facility is in addition to the $250 million PIPE facility and the 184.5 million euros forward purchase arrangement with an affiliate of IIAC revealed last July. The IPO is expected to allow Zegna to further expand globally and continue to build its manufacturing pipeline through acquisitions.company with a stake of about 62 percent. Investindustrial will have an 11 percent stake and 27 percent would be free floating. Based on the transaction value, the merged entity will have an anticipated initial enterprise value of $3.2 billion. which will result in the label being known simply as Zegna.