Quiksilver To Go Private Post Bankruptcy

Quiksilver, which declared bankruptcy a few months ago, is slated to go private with Oaktree Capital after it emerges from U.S. Bankruptcy coast as part of a $600 million refinancing deal. Oaktree pulled off the same maneuver when it rescued Billabong from Bankruptcy a few years ago.

According to the Sydney Morning Herald:

Oaktree Capital Management will own more than 90 per cent of the shares in Quiksilver and will take the company private if a US court approves a $US600 million ($853 million) refinancing proposal, new details of which emerged this week.

The US-based private equity firm owns 18.7 per cent of Billabong International following a similar $350 million refinancing of the Gold Coast-based company two years ago.

In addition Oaktree is exploring the option to merge the retail operations of Billabong + Quik which could benefit both brands’ retail efforts through scaling and consolidation.

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