Markets: Billabong's Californian escape

California's Altamont Capital has struck an effective ownership deal with struggling Billabong that does its best to protect its tail.

Altamont Capital Partners, Billabong’s new financier and effective owner, is named after California’s Altamont Pass, a route used by some during the California gold rush. Altamont was also the site of the fatal stabbing at a Rolling Stones concert of Meredith Hunter by a member of the Hell’s Angels motorcycle gang who were acting as security guards.

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