Firms advise on sale of Billabong

The deal implies an enterprise value of $380m

Firms advise on sale of Billabong

Gilbert + Tobin (G+T) and Allens are advising on the sale of Billabong.

G+T is advising Boardriders Inc, which is controlled by Oaktree Capital Management funds. Allens is acting for Billabong, which has an implied enterprise value of $380m in the deal.

Oaktree is already Billabong’s biggest shareholder, with a 19% stake. It has also loaned money to the surfwear company, which owns the RVCA, Element, and Von Zipper brands.

Most Read

Boardriders, which has recovered from bankruptcy when it was still Quiksilver, owns the Quiksilver, Roxy, and DC Shoes brands.

Allens said that Boardriders has proposed to buy all outstanding shares of Billabong that are not owned by related entities at $1 per share via a scheme of arrangement. The deal, which is subject to conditions including shareholder approval, is expected to close in April, Reuters said.

Allens’ team is headed by partner Guy Alexander. He is supported by partners Vijay Cugati, Alan Maxton, and Caroline Oddie; senior associates Noah Obradovic, Nashleen Dilrajh, Michael Gibling, and James Kerr; and lawyers Anna Conigrave and Max Chapman.


Related stories:
Top firm cleans up on $80m Oates deal
Legal giant confirms role in $3.83bn sale

Recent articles & video

Paul Hastings enhances white-collar defense practice with litigator Renato Mariotti

Weil Gotshal & Manges expands West Coast Presence with new offices in Los Angeles and San Francisco

Lawyers seek access to Johnson & Johnson communications in talcum powder lawsuit

CRH takes major stake in Adbri with G+T's support

Pro bono commitment from NSW solicitors ticks up: report

Barry Nilsson promotes 27, brings in new principal

Most Read Articles

Clyde & Co lawyer makes move to W+K

Allens takes on JV, strategic partnership deals

Two take big roles at JWS

Head of Pearce IP's trade mark team talks protecting mascots and working with words