Shares of Capri Holdings have jumped as the U.S. company moves closer to a sale of its Italian luxury brand, Versace, to Prada.
The Italian family-owned company and Capri have agreed to a price of as much as €1.5 billion ($1.6 billion) for the fashion house founded by the late Gianni Versace in 1978, people familiar with the matter said late Sunday.
Capri Holdings rose as much as 9.6% before the start of regular trading in New York on Monday. Prada shares gained as much as 4.1% in Hong Kong, where the stock was listed in 2011 in a nod to the importance of the Chinese market.
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