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Prada Denies Report On Possible Stake Sale To Richemont

MILAN -(Dow Jones)- Italian luxury goods company Prada SpA denied a press report on the possible sale of a minority stake to Swiss Compagnie Financiere Richemont SA (CFR.VX), a spokesman said Tuesday. "Prada strongly denies it is in talks over the sale of any stake to Richemont," the spokesman said. According to a press report Richemont SA, maker of the Cartier brand, is in talks with the Milan-based fashion house on a possible deal to buy about a third of Prada's capital. According to people with knowledge of the situation in December Prada creditor banks -- that include Intesa Sanpaolo (ISP.MI) and UniCredit (UCG.MI) -- signed an agreement to postpone the payment of part of its multi-million debt to 2012. -By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com

Stock News for Perdigao (PDA)
DateTimeHeadline
06/07/201106:06:32PPR Is Not Interested In Prada - Source
01/27/201108:45:21Prada's Board Approves Hong Kong Listing
01/05/201005:46:08Prada Denies Report On Possible Stake Sale To Richemont
06/11/200913:51:34Prada Says It's Renegotiating Duration Of Its Debts With Banks

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