Prada announced the signing of a definitive agreement to acquire 100% of Versace from Capri Holdings. The consideration will be paid entirely in cash and will be based on an enterprise value of 1.25 billion euros, subject to possible adjustment at closing. "We are delighted to welcome Versace into the group and to start a new chapter for a brand with which we share an unwavering commitment to creativity, product care and a strong cultural heritage," said Patrizio Bertelli, Prada's chairman and executive director. The deal marks an important turning point in the Italian and international luxury scene, uniting two fashion icons under one roof.