An investment firm is buying a majority stake in Spanx, a deal which values the company at an estimated $1.2 billion. (Shutterstock)
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Two decades after Sara Blakely launched the pioneering womenswear company Spanx, global investment firm Blackstone is buying a majority stake in the company, a deal that would value the business at an estimated $1.2 billion.
Blakely celebrated the sale by purchasing two first-class tickets — to anywhere in the world — along with $10,000 for each employee.