Italian luxury company Prada has completed the purchase of Versace Group in a deal valued at 1.25 billion euros (equivalent to around 14 billion kronor), Prada said in a statement.
The agreement on the corporate acquisition – the largest in Prada's history – was finalized back in April, but now the financial transaction has also been completed.
The seller of Versace is Capri Holdings.
Prada CEO Andrea Guerra said last week that the work of integrating Versace into the Prada group will take several years and no new major acquisitions are planned during that time.
