BUZZ-Capri jumps after Prada's $1.4 billion deal for Versace

-2.55%

-0.51%

-1.07%

-1.69%

Capri Holdings Limited CPRI	26.03	-2.55%
Dow Jones Industrial Average DJI	48458.05	-0.51%
S&P 500 index SPX	6827.41	-1.07%
NASDAQ IXIC	23195.17	-1.69%

** Shares of Michael Kors-parent Capri Holdings CPRI.N jump 4.7% to $17.12 premarket

** Prada 1913.F says it will buy Versace from Capri in a deal valuing the iconic brand at $1.38 billion

** Versace will become a subsidiary upon closing of the deal, the Italian fashion house says

** Transaction is expected to close in the second half of calendar year 2025

** Capri had bought Versace for 1.83 billion euros ($2.03 billion) in 2018

** Up to last close, CPRI shares down over 22% so far this year

($1 = 0.9011 euros)

(Reporting by Ananya Mariam Rajesh in Bengaluru)

((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))

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