Goldman Sachs is reportedly main a gaggle of prime funding banks to assist Italian design large Prada bankroll its deliberate $2.5 billion bid for luxurious rival Versace.
The David Solomon-led lender has been advising the style powerhouse on its bid to amass Versace from mother or father firm Capri Holdings, the Milan-based enterprise each day MFF reported on Friday.
Prada is seeking to drum up $1.5 billion to finish the takeover, with one other $1 billion earmarked to relaunch and revive Versace’s Medusa model, the newspaper stated.
A Goldman Sachs spokesperson declined to remark.
The Publish reached out to Prada and Versace for remark.
There was no indication from Capri executives as to whether or not they would settle for a proposal for the beleaguered Versace label at that worth, regardless of the corporate’s sliding gross sales and $3 billion debt pile.
US-based Capri additionally owns Jimmy Choo and Michael Kors, together with the famed Italian label based by Gianni Versace, who was murdered in 1997 exterior his Miami Seashore home at age 50.
Donatella Versace, Gianni’s sister, stepped down as the corporate’s essential designer three weeks in the past amid rumors of a potential deal.
Dario Vitale, beforehand a protégé of Miuccia Prada at sister label Miu Miu, was appointed because the chief artistic officer in her place.
Andrea Guerra and Lorenzo Bertelli — the eldest son of Miuccia Prada and Patrizio Bertelli, and head of company social duty — traveled to New York three weeks in the past for talks concerning the potential deal, in response to MFF.
Prada’s takeover plans would assist CEO Andrea Guerra’s acknowledged aim of doubling its income from $5 billion to $10 billion.
