| Banca Intesa to take Prada share |
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| Monday, 17 July 2006 | |
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Prada’s banker, Banca Intesa, is set to acquire a 5 percent stake in the international fashion house. This would value Prada at €2.75 billion. The terms of the agreement stipulate that Banca Intesa will provide the company with €300 million. €200 million of that amount will be in the form of a loan to Prada Holding NV parent ITMD Investments. Intesa will invest the remaining €100 million via a capital increase. Financial sources have told WWD that Prada and Intesa are planning to take the company public within the next few years. |

