Bankrupted Quiksilver may possibly leave the stock exchange, if the American court approves an Oaktree Capital Management refinancing plan, which would give the firm more than 90 % of shares.
Possible Billabong merger
Oaktree Capital Management wants to invest 600 million dollars (550 million euro) into Quiksilver, to help the forlorn surfing brand recover. In exchange, it will get more than 90 % of shares and intends to delist the brand immediately.
It is not the first time the investment company will venture into the surfing world as it is also Quiksilver’s major competitor Billabong’s largest shareholder. It owns 18.7 % of its shares, after it struck a similar deal with Billabong several years ago.
Keeping those things in mind, it does not come as a surprise that there are rumours about a possible merger between Billabong and Quiksilver. One of the bankers involved in the dealings with Quiksilver says Oaktree has already considered it, but the board at both Quiksilver and Billabong says there is no merger planned at all so far.
