Prada acquires Milan property for €66.5m in connected transaction

Prada S.p.A. has agreed to acquire a property at Via Orobia 3, Milan, from Ludo Due S.r.l. for €66,587,950. The transaction, completed on November 18, 2025, involves a 14,800 square metre plot with 11 buildings used for offices, workshops, and laboratories, totaling 8,699 gross square metres, and an undeveloped area of 3,239 square metres.

Ludo Due S.r.l. is controlled by Miuccia Prada Bianchi, an executive director and substantial shareholder of Prada, making this a connected transaction under Chapter 14A of the Listing Rules. The acquisition's percentage ratios exceed 0.1% but are less than 5%, requiring reporting and announcement but exempting it from circular and independent shareholder approval. The consideration was paid in cash from the group's internal resources.

The acquisition is strategic, securing a prime location in an area undergoing major urban redevelopment, including the Olympic Village for the Milan-Cortina 2026 Winter Olympics. Prada has been leasing part of the property since 2013 for its operational headquarters and aims to potentially develop a new corporate headquarters.