Billabong taken over for $380m by firm that owns Quiksilver

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January 05, 2018 11:59:43

The board of Australian surfwear agency Billabong has agreed to be taken over for just about $380 million.

The capability buyer is a US agency known as Boardriders, the owner of Billabong’s competitor Quiksilver.

Below this deal, Boardriders can pay $1.00 for each part inside the Australian agency.

The agency mentioned, in a statement to the ASX, that it had officially agreed to the plan of affiliation on Friday.

This deal is predicted to be finalised through April.

Improve in August, Billabong posted a full-year loss of $77.1 million — larger than triple its to seek out loss from remaining yr.

Extra to succeed in fortify.

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First posted

January 05, 2018 11:17:24

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Updated: January 5, 2018 — 1:08 am
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