Oaktree-backed Australian surf brands to merge
Australian surfwear brand Billabong International has agreed to an acquisition by industry peer Boardriders, which owns the Quiksilver brand. Both companies are backed by Oaktree Capital Management.
Boardriders offered in December to buy all outstanding shares in Billabong for A$1.00 apiece, implying a valuation of around A$198 million ($150 million). The Australian Securities Exchange-listed company...
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