Prada to Purchase Versace for $1.38 Billion; Shares Rise 3%

MT Newswires Live2025-04-11

Prada (HKG:1913) will acquire rival Versace from Capri Holdings for an enterprise value of $1.375 billion, according to a Thursday filing with the Hong Kong bourse.

The Hong Kong-listed fashion company will fund the transaction through 1.5 billion euros of new debt, comprising a 1-billion-euro term loan and a 500-million-euro bridge loan facility, according to a separate press release by Prada.

Completion is slated for the second half of 2025, Prada said.

Versace will maintain its identity and "cultural authenticity" following the deal, Prada said.

Citigroup Global Markets Europe and Goldman Sachs Bank Europe serve as financial advisers to the deal.

Prada's shares rose 3% in Hong Kong during Friday's late morning trading.

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