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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POLICE ARREST TRAFFIC ROBBERS ON IKORODU ROAD.(PHOTO).#PRESS RELEASE

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 POLICE ARREST TRAFFIC ROBBERS ON IKORODU ROAD 


Operatives of Ketu Division of the Lagos State Police Command have arrested three members of a traffic robbery gang notorious for dispossessing motorists of their belongings at Ile-Iwe/Kosofe, Ikorodu Road, in Ketu area of the State.

The suspects namely Segun Olaiya ‘m’ aged 20, Ayinde Waris ‘m’ aged 19 and Bashiru Mohammed aged 28 were arrested on Monday, September 26, 2022 at about 1900hrs while attacking some motorists by policemen on covert operation in the area.

The suspects are currently assisting the police in an ongoing investigation to arrest other members of their gang. Suspects would be arraigned at the conclusion of investigation.

The Lagos State Commissioner of Police, CP Abiodun Alabi, fdc, has directed that efforts be sustained across the state towards ensuring that all miscreants are apprehended and dealt with in accordance with the law.

SP BENJAMIN HUNDEYIN, anipr, mipra
Police Public Relations Officer,
Lagos State Command,
Ikeja.

September 28, 2022.

 

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