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L Brands Says Private Equity Firm Backing Out Of Agreement To Purchase Victoria's Secret

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Columbus-based L Brands says Sycamore Partners is attempting to terminte a deal to purchase a majority of Victoria’s Secret. 

The private equity firm in February agreed to purchase 55 percent of Victoria’s Secret for 525 million dollars. L Brands says Sycamore Partners also filed a lawsuit in the state of Delaware seeing approval of the termination. L Brands believes the termination is invalid and vows to fight the suit.

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