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July 16, 2006
Report: Prada Sells Company Stake
Prada Group is selling a 5% stake in the company to Italian bank Banca Intesa, according to a report out Sunday.
Sale of the $126.5 million stake would open Prada up to influences outside of the family business and possibly lead to a market listing.
The move follows recent efforts to improve Prada’s books by selling off underperforming brands such as Jil Sander and Helmut Lang.
Posted by Blacks on July 16, 2006 10:44 AM
