ITALY’S PRADA TO BUY RIVAL VERSACE FOR 1.25 BN EUROS. (PHOTO).

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 Italy’s Prada to buy rival Versace for 1.25 bn euros Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy Versace for 1.25 billion euros ($1.39 billion). The acquisition will create a luxury group with revenues of over six billion euros that could better compete with industry giants such as the French conglomerates LVMH and Kering amid a slowdown in the sector worldwide. “We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage,” Prada group chairman and executive director Patrizio Bertelli said in a statement. In 2018, Capri paid €1.83 billion (then $2.1 billion) to acquire Versace, which was previously owned 80 percent by the Versace family and 20 percent by the US investment fund BlackRock. Amid declining sales, it put the Milan-based label up for sale, and began exclusive negotiations with Prada at the en...
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GOV. FAYOSE TO EMPLOY 2000 PEOPLE BEFORE THE END OF HIS TENURE.

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    "I have good news for young people that this government will employ 2000 people before my tenure times out. Within the next one week, we'll role out modalities on how this will be done and how it will spread round the 16 local government.
Above all, the recruitment will follow due process, you don't have to know anybody in the system, you don't have to know the governor.Take my words for it, I am going to personally manage the process to ensure that the average common man who has no voice gets justice.".-Governor Ayodele Fayose.
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