(CercleFinance.com) – Capri Holdings soars by 56% after the announcement of a definitive agreement by which Tapestry will buy the parent company of Versace, Jimmy Choo and Michael Kors, for a price of 57 dollars per Capri share, i.e. a total enterprise value of approximately 8.5 billion.
This transaction would create a luxury player representing an annual turnover of more than 12 billion dollars, with a presence in more than 75 countries, and having realized an adjusted operating profit of nearly two billion over the previous financial year. .
The Boards of Directors of both companies have unanimously approved the transaction, which is expected to close in 2024, subject to Capri shareholder approval, regulatory approvals and other customary conditions.
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