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L Brands to spin off Victoria's Secret, Bath & Body Works into two public companies

L Brands said Tuesday it will spin off its Victoria’s Secret brand rather than sell it. The company said it received interest from 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 spinoffs are expected to be completed by August. CNBC's David Faber reports.
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Tue, May 11 202110:23 AM EDT