trending Market Intelligence /marketintelligence/en/news-insights/trending/sLmtG2X9HU0OhapUyQAiHA2 content esgSubNav
In This List

Michael Kors closes €1.83B Versace deal


S&P Capital IQ Pro | Powering Your Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights


Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

Michael Kors closes €1.83B Versace deal

Michael Kors Holdings Ltd. said in a Dec. 31 statement that it has closed the acquisition of Italian fashion label Gianni Versace SpA.

The U.S. fashion group agreed to acquire Versace in September for €1.83 billion, or approximately $2.12 billion.

Michael Kors also changed its name to Capri Holdings Ltd. The company's ticker will change to CPRI from KORS.

Capri's shares will start trading under the new stock symbol on the New York Stock Exchange on Jan. 2, 2019.

Along with the closing of the deal, the Versace family — Donatella Versace, her brother Santo Versace and her daughter, Allegra Versace Beck — reinvested €150 million of the cash received for their interests in Versace in exchange for 2,395,170 ordinary shares of Capri Holdings.