# Intercos fund shareholders L Catterton, OTPP sell 6% stake at 7% discount
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-29
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Intercos Sale: L Catterton & OTPP Sell Stake at 6.8% Discount
Meta Description: Private equity fund L Catterton and the Ontario Teachers' Pension Plan (OTPP) have finalized the sale of a 5.7% stake in Italian cosmetics manufacturer
URL: https://financedigest.com/intercos-fund-shareholders-l-catterton-otpp-sell-6-stake-at-7-discounthtml

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MILAN (Reuters) – Private equity fund L Catterton and the Ontario Teachers’ Pension Plan (OTPP) said they had completed the sale of an around 5.7% stake in Italian cosmetics manufacturer Intercos at a price of 13.25 euros ($14.36) per share.

The price represents a 6.8% discount to Tuesday’s closing value of 14.15 euros per share.

Shares in Intercos fell as much as 6% to 13.30 euros on Wednesday.

The sale took place through an accelerated bookbuilding procedure managed by Jefferies and UBS, while Rothschild & Co acted as [financial adviser](https://www.financedigest.com/smart365-to-unite-advisers-and-technology-for-better-financial-decisions.html "Smart365 to unite advisers and technology for better financial decisions") to the sellers.

Gross proceeds from the placement totalled about 73 [million euros](https://www.financedigest.com/germanys-merck-to-invest-300-million-euros-in-us-gas-plant.html "Germany’s Merck to invest 300 million euros in US gas plant"). The deal will settle on March 31.

L Catterton and OTPP will come to hold, respectively, 13.3% and 10% of Intercos, as a result of the deal.

Intercos started trading in Milan in November 2021, after listing its shares at a [price of 12.50 euros](https://www.financedigest.com/carrefour-unveils-30-euro-shopping-basket-in-spain-after-government-price-cut-proposal.html "Carrefour unveils 30 euro shopping basket in Spain after government price cut proposal") each.

Intercos is [controlled by founder Dario Gianandrea Ferrari through a 40.5% stake](https://www.financedigest.com/novo-nordisk-in-talks-buy-controlling-stake-in-biocorp.html "Novo Nordisk in talks buy controlling stake in Biocorp"). ($1 = 0.9228 euros)

(Reporting by Alessandro Parodi and Federico Maccioni, editing by Cristina Carlevaro and Valentina Za)


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