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>> Cavalli Loses Minority Stake Deal; Prada Postpones Loan Payment —After three years of speculation, Roberto Cavalli almost had us convinced that he was ready to sell a minority stake in his company. The deal he was working on with Clessidra — which was expected to be finalized by the end of September — fell through over the weekend after the private equity firm disagreed with Cavalli over the value of his business. Meanwhile at Prada, Miuccia and Patrizio Bertelli now have until 2012 to pay off $450 million after lenders agreed to an extension, a move that alleviates any pressure to sell a stake in Prada over their desired, but so far elusive, initial public offering. [WWD, WWD]
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- Source: Courtesy of Interview Germany
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