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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CBN GOVERNOR ANNOUCED THE IMMEDIATE STOPPAGE OF FOREX SALE TO LICENSED BUREAUX DE CHANGE.{PHOTO}.#PRESS RELEASE.

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Excerpts from 280th MPC press briefing


CBN Governor, Mr. Godwin Emefiele, announces immediate stoppage of Forex sale to licensed Bureaux de Change (BDCs)


CBN suspends issuance of new licenses for operation of Bureau de Change (BDC)


CBN directs Deposit Money Banks to sell forex directly to customers with minimal documentation for invisibles


InfraCorp unveiling still on course for Q3 of 2021 - Emefiele


Emefiele assures of support to youth to develop their entrepreneurial skills


Emefiele reiterates that the strategic health of the Nigerian banking industry remains strong


#CBN #MPC July 2021 MPC meeting votes unanimously to retain MPR at 11.5%


#CBN #MPC retains CRR at 27.50 per cent and liquidity ratio at 30 per cent


#CBN #MPC maintains Asymmetric Window of +100 and -700 basis points around the MPR.

One more photo below.



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