Prada S.p.A. (SEHK:1913) and Ermenegildo Zegna N.V. (NYSE:ZGN) reached an agreement to acquire 30% stake in Luigi Fedeli e Figlio S.r.l. on June 6, 2023. The agreement provides that Prada Group and Ermenegildo Zegna Group will each acquire a 15% stake. Luigi Fedeli, currently Chairman and Chief Executive Officer of Fedeli, will hold the remaining 70% of the company and will continue in his present roles. Prada paid ?4.7 million for acquisition of a 15% stake in Luigi Fedeli e Figlio S.r.l.

Gildo Zegna, Chairman and Chief Executive Officer of the Ermenegildo Zegna Group, and Patrizio Bertelli, Prada Group Chairman and Executive Director , will join Fedeli?s Board of Directors. The transaction is subject to clearance from the European Commission under the EC Merger Regulation. Luciano Avanzini and Stefano Balbinot of DGPA & Co. S.r.l. acted as financial advisor to Luigi Fedeli e Figlio S.r.l. Filippo Grillo and Arrigo Gattai of Carnelutti Studio Legale Associato acted as legal advisor to Luigi Fedeli e Figlio S.r.l. Massimo Trotter of Trotter Studio Associato acted as accountant to Luigi Fedeli e Figlio S.r.l.