Davis Polk advised Limited Brands, Inc. in connection with its sale to Sycamore Partners LLC of a controlling 51% interest in Mast Global Fashions. Limited Brands will retain a 49% stake in Mast Global Fashions. Financial terms of the transaction were not disclosed.

Limited Brands, through Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, is an international apparel company. Mast Global Fashions is a third-party apparel sourcing business. Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments.

The Davis Polk team included partners David L. Caplan, Kirtee Kapoor and Nancy L. Sanborn and associates Jiabei Chen, Patrick Delaney, Megan Chia and Michael R. Patrone (not yet admitted). Partner Neil Barr and associate Gregory T. Hannibal provided tax advice. Counsel John T. Wright and associate Jennifer Freiman provided employee benefits advice. Partner Lawrence E. Wieman and associate Peter T. Bazos provided credit advice. Members of the Davis Polk team are based in the New York and Hong Kong offices.