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.