Prada to buy Versace from Capri Holdings for lowered $1.38B price tag, FT says

Prada (PRDSY) is closing in on the purchase of Versace from owner Capri Holdings (CPRI) in a deal worth about $1.38B as soon as Thursday after negotiating a discount of more than $200M due to the impact of President Donald Trump’s trade war, according to Financial Times’ Arash Massoudi, Silvia Sciorilli Borrelli and Adrienne Klasa. People with direct knowledge of the talks added that the transaction price, which had been expected to be agreed at about $1.6B, was renegotiated downwards in recent days following the market turmoil and pressures that tariffs were expected to place on Versace’s business, warning that the deal announcement timing could slip and small price adjustments could still be made, said FT.