Prada boosts stake to 9.5% in rival Gucci

Article Abstract:

Prada, an Italian family-owned fashion group, has raised its stake to 9.5% worth around $260 million in its main competitor Gucci to become its largest shareholder. The move has renewed speculation that Prada may be planning a merger with Gucci. Prada indicated that it may consider acquiring additional shares in Gucci, a merger, an asset sale, a joint venture or a change in Gucci's corporate structure based on its filings with the US Securities and Exchange Commission. Prada added that it may pursue its interest with other parties. Analysts, however, are doubtful that Prada has the financial means to carry out a takeover which they estimate would cost around $3 billion.

Comment:

Raises its stake in its main competitor Gucci to 9.5% worth around $260 million

Italy, Apparel & Related Products, Apparel Manufacturing, Leather & Products, Leather and Allied Product Manufacturing, Leather goods, Gucci Guccio S.p.A.

---

Prada's designs on Gucci are unclear

Article Abstract:

Prada Chief Executive Patrizio Bertelli's move to increase the company's stake at Gucci Group NV from 5% to 9.5% is confusing industry watchers. The move has made Prada as the biggest shareholder in Gucci, whose designs had been criticized as outdated by many people. Prada's filing with the US Securities and Exchange Commission also provided little information, boosting speculations that Prada was working with another party to take control of Gucci and that Gucci would be pressured to find a white knight.

Comment:

Chief Executive Patrizio Bertelli's move to increase the co's stake at Gucci Group NV from 5% to 9.5% is confusing ind watchers

Netherlands, Women's Apparel, Women's and Girls' Cut and Sew Apparel Manufacturing, Women's clothing, Gucci Group N.V.

---

Similar abstracts:

• Abstracts: European airlines scan the arrivals hall. Seasonal repentance
• Abstracts: Stalemate in Delhi. Personable premier. Next time: Congress Party plots a return to the centre
• Abstracts: Drawbacks of Thailand's plan to heal its banks. Bumiputra banks eyes rescue. Shareholders should be the ones to pay for bank errors
• Abstracts: Hero Honda roars ahead, running circles around rivals. Analysts say Jianshe offers easy ride on cycle market. Hero Honda roars ahead , running circle around rivals: as India's bourse struggles, motorcycle company continues to show promise as profit maker
• Abstracts: Water privatisations yet to mature. Water and sewer privatization hits the mass market

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.