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Stock impact report

Prada completes Versace takeover after long courtship [CNN]

Capri Holdings Limited Ordinary Shares (CPRI) 
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am Check Earnings Report
Company Research Source: CNN
Prada signed a definitive agreement in April to buy Versace from US-based Capri Holdings for about 1.3 billion euros ($1.51 billion), after Capri's sale to Tapestry was scrapped in the wake of a challenge by antitrust regulators. Lorenzo Bertelli, the son of Prada owners Miuccia Prada and Patrizio Bertelli, told Reuters in November that he will become executive chairman of Versace once the integration is complete. He said that Prada had been keen on a deal for several years. “There had already been contacts during the COVID period, there were talks even before Capri's sale to Tapestry. When that deal fell through over antitrust issues, we came back and tried to speed things up,” Lorenzo Bertelli said. “It was something that had been in the works for a long time,” he added. Versace's legacy is more than just daring dresses Founded in 1978 by Gianni Versace in Milan, the brand renowned for its bold, glamorous aesthetic will join the group's two main labels – its namesake Prad Show less Read more
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