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Feb. 9, 2020, 9:41 p.m. EST

L Brands nears deal to sell Victoria's Secret to private equity group: report

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By Mike Murphy

L Brands /zigman2/quotes/202062875/composite LB +2.64% is close to a deal to sell Victoria's Secret to private equity company Sycamore Partners, CNBC reported Sunday night . A price was not reported, but CNBC said the deal could be announced this week. The Wall Street Journal reported in January that L Brands was considering selling the Victoria's Secret brand, as well as Chief Executive Lex Wexner stepping down from his role. CNBC said it was unclear what Wexner's role, if any, would have after the deal. L Brands shares are down 11% year to date, compared to the S&P 500's /zigman2/quotes/210599714/realtime SPX +1.05% 23% gain.

/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 15.93
+0.41 +2.64%
Volume: 5.07M
July 10, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.31 billion
Rev. per Employee
$148,898
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/zigman2/quotes/210599714/realtime
US : S&P US
3,185.04
+32.99 +1.05%
Volume: 2.41B
July 10, 2020 5:09p
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