L Brands to spin off Victoria's Secret by August

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By Yoongi in Business
Updated 3 years ago

L Brands said Tuesday it will spin off its Victoria's Secret brand rather than selling it. The company said it received interest from and held discussions with multiple potential buyers, but its board concluded that separating Victoria's Secret and Bath & Body Works into two separate publicly traded companies would be a better option. The spinoff is expected to be completed by August.

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