The now-abandoned deal, in which Sycamore was poised to take a 55 percent stake in Victoria’s Secret for about $525 million, was thrown into jeopardy when Sycamore sued to terminate the transaction.
Sycamore Partners looks to terminate its investment in Victoria's Secret. Mergers & Acquisitions examines 5 deals that have failed because of the coronavirus pandemic. York Capital and Cyrprium raise new funds.
The private equity firm said moves such as failing to pay rent and furloughing thousands of workers amid widespread retail disruption sparked by the outbreak have reduced the company’s value.
M&A wrap: Coronavirus, Goldman Sachs, Riverside, Paul Hastings, Arsenal, Moonsail, Sycamore, Top PE firms
Goldman Sachs warns that U.S. businesses will not see earnings growth in 2020, as a result of the coronavirus. We check in with dealmakers on the potential impact on mid-market M&A. Arsenal buys healthcare search and communications firm. Audax, HarbourVest and Genstar named top three most active PE firms in U.S. deals.