Billabong signs takeover deal

Recapitalisation agreement includes appointment of new CEO, MD; board to include Centerbridge-Oaktree members.

Billabong International (BBG) has entered a binding agreement with the Centerbridge-Oaktree consortium to recapitalise the company.

In a statement to the Australian Securities Exchange, Billabong said the deal would include a rejig of its board to include members appointed by Centerbridge-Oaktree.

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