Spanx valued at $1.2B in Blackstone deal

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Shapewear company Spanx has been valued at $1.2 billion after penning a deal with Blackstone.

The private equity firm is taking a majority stake in the brand.

"This is a really important moment in time for female entrepreneurs," said Spanx founder Sara Blakely, who will keep a "significant" equity stake in the business and become its executive chair.

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