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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27YEAR OLD ARRESTED WITH A GUN AND 25 LIVE CARTRIDGES AT OJODU BERGER. (PHOTOS).

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Oladimeji Hassan ‘m’ aged 27 was arrested at Berger earlier today by officers of Ojodu Division after he was searched and found with a locally made gun and twenty five live cartridges. Investigation is ongoing.
More photos below. 


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