Versace to be acquired for $2B by US firm - reports - Breaking The News

Versace to be acquired for $2B by US firm - reports

24 September

1 min read

EPA-EFE / DANIEL DAL ZENNARO

Italian media reported on Monday that Milan-based fashion company Gianni Versace S.p.A. (Versace) is getting sold to what is most likely a United States-based firm, with a meeting on the matter scheduled for Tuesday. Some sources said the deal could be announced "within hours."

Companies rumored to be the buyer include New-York based Michael Kors Holdings Ltd’s and Tiffany & Co., according to outlet Corriere della Sera.

Sources said Versace's Vice President Donatella Versace (pictured) is set to attend the meeting, and an official announcement could be released afterwards. The luxury goods company could be valued at $2 billion, the media wrote.

mergers and acquisitions versace michael kors

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