Italian luxury group Prada is moving closer to a deal to buy Versace from upmarket fashion group Capri Holdings after agreeing to a price of nearly 1.5 billion euros ($1.6 billion), Bloomberg News reported on Sunday. Prada and Capri – also owner of brands including Jimmy Choo and Michael Kors – could finalise a deal for Versace in March, the report said, citing unnamed sources. Talks between the two companies are progressing after initial due diligence did not show any risks, Bloomberg reported, adding that the timing and deal value could change and discussions could still fall apart.
Yahoo! Finance: CPRI News
