Limited intends to grow the chain throughout most of its retailformats, both in Canada and in other countries, said MartynRedgrave, the company's chief financial officer, during aconference call on the deal. Limited will also keep Montreal-basedLa Senza's management team in place.
Locally-based Limited is funding the deal with $400 million indebt and the remainder with $240 million in cash. Managementofficials with both retailers say they expect the deal to close bymid-January.
For its most recent quarter, reported on Aug. 23, La Senzaposted a 2.3% same-store sale increase year over year. Net earningsfor the period more than tripled, reaching C$7.2 million, whiletotal sales jumped 12.3%, to C$108.9 million.
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