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Shedding Victoria's Secret business and making c-suite changes.
February 20, 2020
By: Christine Esposito
Editor-in-Chief
L Brands, Inc.’s deal with Sycamore Partners entails making Bath & Body Works a standalone public company and spinning off Victoria’s Secret Lingerie, Victoria’s Secret Beauty and Pink (collectively, Victoria’s Secret). Under the terms of the transaction, Victoria’s Secret, with a total enterprise value of $1.1 billion, will be separated from L Brands into a privately-held company majority-owned by Sycamore. After taking into account certain liabilities, Sycamore will purchase a 55% inte...
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