Italy's Tamburi seeks investments to follow Moncler

Wed Aug 14, 2013 4:19pm EDT

* Tamburi seeks tech, fashion, retail investments

* Printemps capital gain will not make company rush to invest

* Ruffini Partecipazioni stake chiefly a bet on Moncler

MILAN, Aug 14 (Reuters) - Italy's Tamburi Investment Partners (TIP) is looking for further purchases after leading a consortium to buy into luxury ski wear maker Moncler, chief executive Giovanni Tamburi said on Wednesday.

TIP, which Tamburi said has investments worth about 1 billion euros ($1.3 billion), acquired an indirect stake in Moncler this month when its majority-owned vehicle Clubsette bought 14 percent of Moncler President Remo Ruffini's holding company.

The independent investment bank, which also holds stakes in hearing aid maker Amplifon and cable maker Prysmian , is mulling deals in the technology, fashion and retail sectors in Europe, at a pace of between one and three a year.

"We have absolutely not finished," Tamburi told Reuters. "We still have liquidity, we still have investors who want to join us, so we're still looking at potential deals - and there are lots of opportunities in Europe."

TIP booked a capital gain worth about 33 million euros in July from the sale of its stake in holding companies for French department store chain Printemps, but the cash will not make it any less choosy about its investments, Tamburi said.

"We won't let having lots of money make us rush to invest."

The 103 million euro investment in holding company Ruffini Partecipazioni, which owns 32 percent of Moncler, is primarily a bet on the ski wear brand, Tamburi said.

"Ruffini Partecipazioni effectively means 32 percent of Moncler," Tamburi said, adding that its other investments, in secondary brands in the Moncler group such as Henry Cotton's and Marina Yachting, are valued far below the flagship label.

The goosedown jacket label is set to list - without the secondary brands - on the Milan bourse in the last quarter of this year. Sources have told Reuters that Ruffini plans to keep his 32 percent stake.

Sources close to the matter have said the IPO values Moncler at about 2 billion euros, but Tamburi declined to put a value on his stake.

Tamburi said the decision to invest in Ruffini was taken regardless of whether Moncler would list or not.

"Our participation in Ruffini Partecipazioni completely disregards the possible effects of a listing - whether it takes place sooner or later." ($1 = 0.7538 euros) (Reporting by Isla Binnie; Editing by Anthony Barker)

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