Australian surfwear seller Billabong International Ltd agreed to a buyout from its top shareholder and major lender Oaktree through its Boardriders unit Friday, in a deal valuing the company at about A$197.7m ($155m).
Sports apparel seller Billabong International Ltd confirmed on Friday it has received an indicative takeover proposal from Boardriders Inc, which values the company at about A$198 million ($150 million).
Quiksilver Inc changed its corporate name to signal a new phase for the company. The California-based company exited Chapter 11 bankruptcy in February 2016 and began to aggressively restructure its business.
Quiksilver has taken a step forward in strengthening its presence in Western Europe with the launch of a Boardriders centre in Ericeira, Portugal. The centre combines a store and showroom together with a surf school.