PE firm to take Victoria’s Secret private as Leslie Wexner steps down

Leslie Wexner has agreed to sell his controlling stake in Victoria’s Secret to a private equity firm and to relinquish his roles chairman and CEO of L Brands, the chain’s parent company. According to the Wall Street Journal, which first reported the deal, Sycamore Partners will purchase 55 percent of the company and take it private. The deal values the struggling business at $1.1 billion, a striking fall from its peak valuation of $29 billion

source https://therealdeal.com/2020/02/20/pe-firm-to-take-victorias-secret-private-as-leslie-wexner-steps-down/