OREANDA-NEWS. Sycamore Partners investment company is close to concluding a deal in which it will take over control of Victoria's Secret lingerie retailer, The Wall Street Journal reports citing sources. According to him, an investor can acquire a 55% stake in Victoria's Secret from L Brands holding, which owns the brand since 1982.

The transaction, according to WSJ, may be announced on February 20. The source of the publication reports that L Brands will continue to control 45% of Victoria's Secret, taking them to a separate company, which will also take over the management of sales of goods from the Pink youth line. At the same time, the only major asset of the L Brands holding itself will remain the network of perfumery and cosmetics stores operating under the Bath & Body Works brand.

According to WSJ, the value of Victoria's Secret brand and network-owned assets under the L Brands and Sycamore Partners transaction is estimated at $ 1.1 billion. This estimate indicates a sharp drop in the price of a business that controls more than a thousand stores, whose total revenue for the previous fiscal year amounted to more than $ 7 billion, media reports. Leslie Wexner began negotiations on the sale of a stake in Victoria's Secret at the end of January.