L Brands to test private equity firms' appetite for Victoria's Secret again: NYT

February 23, 2021 8:26 AM EST

FILE PHOTO: A customer passes by an L Brands Inc., Victoria's Secret retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Brendan McDermid


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(Reuters) - L Brands' bankers at Goldman Sachs would begin pitching buyout firms about a potential sale of its Victoria's Secret lingerie brand as soon as this week, the New York Times reported on Tuesday, citing people with knowledge of the matter.

The Columbus, Ohio-based company's attempt to sell a majority stake in its Victoria's Secret business to Sycamore Partners collapsed last year after the buyout firm alleged that L Brands breached the terms of the deal.

L Brands did not immediately respond to Reuters' request for comment.

Earlier this month, the company said it was aiming to complete the separation of its Victoria's Secret and Bath & Body Works businesses by August, with options including a spin-off of the former into a public company or a private sale of the business.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)



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