MILAN — Prada and private-equity fund Equinox Management Co. SA struck a preliminary agreement Friday calling for Equinox to acquire 45 percent of the Church’s Group, the high-end English footwear firm, from Prada Holding. Terms were not disclosed.

News of the pact followed growing speculation Prada aims to sell some of its assets, in a bid to reduce its debt of $827.6 million, now that plans for a public offering are on hold.

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