A controlling stake in Victoria’s Secret is on the cusp of being sold in a deal that values the lingerie brand, famed for its fashion shows, at $1.1 billion (£848 million).
New York-based private-equity group Sycamore Partners is expected to buy 55% and take the company private, according to the Wall Street Journal.
The firm’s US parent L Brands would keep a 45% stake, the report added.
Sycamore and Victoria’s Secret, which has a handful of London stores including in Bond Street, could not be reached for comment.
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