Michael Kors closes Versace deal, changes name to Capri [MSN Money]
MICHAEL KORS HOLDINGS (KORS)
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Source: MSN Money
© jetcityimage / Getty Images Luxury brand Michael Kors Holdings Ltd. announced Monday morning that it has closed its acquisition of fashion brand Versace and will change its name to Capri Holdings effective January 2. Capri stock will trade on the New York Stock Exchange under the ticker symbol CPRI. When the acquisition of Versace was announced in late September, the deal was valued at $2.12 billion in cash. The name change was announced at the same time, to become effective on the closing date of the Versace acquisition. Load Error Capri Chair and CEO John Idol said: Versace has long been recognized as one of the world’s leading fashion luxury houses, and is synonymous with Italian glamour and style. We are thrilled that the house of Versace is now part of the Capri Holdings family of luxury brands. We look forward to working with Chief Creative Officer Donatella Versace, Chief Executive Officer Jonathan Akeroyd, and their incredibly talented team to contin
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