Prada shortly before a billion dollar takeover of Versace!

Prada shortly before a billion dollar takeover of Versace!

Italien - The Italian luxury fashion group Prada is about to spectacular takeover of its competitor Versace. According to a report by Bloomberg a purchase price of almost 1.5 billion euros (around $ 1.56 billion) was agreed. The conversations between the two companies are progressing after a comprehensive audit provided positive results and did not reveal any significant risks.

Prada could therefore conclude the takeover in March in March, no unexpected obstacles should appear. At Capri Holdings, which also includes brands such as Michael Kors and Jimmy Choo, Versace was offered for sale after an offer from the US group Tapestry has previously been withdrawn. Capri Holdings had acquired Versace in 2018 for 1.83 billion euros including debts and could now separate from the important brand, such as OE24 reported.

market analysis and strategic options

The negotiations are strategically important, not only for Prada, but also for Capri. Despite the positive course of the talks, the possibility of a failed deal remains, which is indicated by insiders. Capri Holdings has commissioned Barclays to check further strategic options, including the possible sale of the brands Versace and Jimmy Choo. The developments could also have an impact on the entire structure of the company, since insiders confirm that the entire Capri group is for sale.