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.
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.
Source: Reuters
Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli
