Billabong turns to refinancing options as buyout talks falter
Embattled Australian surfwear company Billabong has discarded the possibility of a takeover by two PE-backed suitors and is now looking at asset sales and alternative means of refinancing its debt. The private equity firms involved in the bids – Altamont Capital Partners and Sycamore Partners – are in discussions with Billabong about participating in the refinancing efforts.
"The refinancing is intended to provide the company with a comprehensive solution and an appropriate capital structure, allowing it to continue its reform agenda," Ian Pollard, Billabong's chairman, said...
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