Italian luxury giant Prada is expected to decide this week on a potential acquisition of rival brand Versace, owned by New York-based Capri Holdings, as negotiations near their final stage. According to Reuters reports, the deal — possibly to be announced on April 10 — could see Versace sold for around 1 billion euros ($1.08 billion), a third less than initially estimated, due to its recent financial losses. Capri CEO John Idol is reportedly heading to Milan for talks, while Prada, which secured exclusive access to Versace’s financial data in February, has extended its review period. Versace was previously acquired by Capri in 2018 for 1.8 billion euros ($1.94 billion) and recently appointed former Miu Miu designer Dario Vitale as its new Chief Creative Officer.