logo
  

Blackstone To Acquire Majority Stake In SPANX At Valuation Of $1.2 Bln

SPANX Inc., womenswear brand founded by Sara Blakely in 2000, announced an agreement for a majority investment from funds managed by Blackstone.

Blackstone has agreed to buy a majority stake in SPANX at a valuation of $1.2 billion - with Blakely maintaining a significant equity stake in the business.

Blakely, along with SPANX's existing senior management team, will continue to oversee daily operations, and at closing, Blakely will become the Executive Chairwoman.

Blackstone said it will make its investment in SPANX through its Blackstone Growth (BXG) and Blackstone Tactical Opportunities businesses.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Microsoft Corp. (MSFT) said it plans to acquire Activision Blizzard Inc. (ATVI) for $95.00 per share, in an all-cash deal valued at $68.7 billion, inclusive of Activision Blizzard's net cash. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like Warcraft,... Goldman Sachs Group Inc. reported Tuesday that profit for the fourth quarter declined 13 percent from last year, reflecting an 8 percent drop in net revenues, higher operating expenses and higher provisions for bad loans. Earnings for the quarter missed analysts' expectations, but quarterly revenues topped it. Amazon has dropped its earlier plan to stop accepting credit cards issued by Visa Inc. in the United Kingdom. The e-commerce giant said it is working on a potential solution with the payments processor to resolve a dispute over the payment fees. In an email to customers, the company reportedly said, "The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take...
Follow RTT