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News Feb 20, 2020

Sycamore Partners’ Acquisition of Majority Stake in Victoria’s Secret

Shearman & Sterling represented BridgeParkAdvisors, a financial advisor to L Brands, in the latter’s sale of a 55 percent stake in Victoria’s Secret to private equity firm Sycamore Partners for about $525 million, after taking into account certain liabilities. 

This strategic transaction will position Bath & Body Works as a standalone public company and separate Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK (collectively, Victoria’s Secret) into a privately-held entity. L Brands will retain a 45 percent stake in Victoria’s Secret.

The Team