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