Prada close to deal for Versace for up to $1.6B, Bloomberg says

Prada (PRDSY) is moving closer to buy Versace from Capri Holdings (CPRI) after agreeing to a price of nearly $1.6B, Tommaso Ebhardt, Luca Casiraghi, and Dinesh Nair of Bloomberg reports, citing people familiar with the matter. Prada and Capri could finalize a deal for the Italian luxury clothier this month, Bloomberg’s sources added.