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Billabong & Quiksilver merger? Here's how it would happen



Industry Updates

Oaktree bailout of Quik could create strange, new merger

Surfersvillage Global Surf News, 27 January, 2016 - The $19 billion global action sports market will see a strange merging of once competitors Quiksilver and Billabong if a few stars align.

The Sydney Morning Herald is reporting that Oaktree Capital Management will own the majority percentage of Quik shares once (and if) the U.S. based branch of the brand emerges from bankruptcy.

Oaktree owns almost 20 percent of Billabong International, which they acquired after refinancing Bong two years ago.

The SMH report said Oaktree is rumoured to be exploring a merger of the two retailers, as one of Quik's bankers from Solomon Co has told a US court that Oaktree may consider combining Quik with Bong at some point in the future. 

But first, a US court needs to approve a $600 million refinancing proposal at Quik. This would be for Quiksilver U.S. only.

Oaktree would then need to swap its Quik debt for equity and buy remaining Billabong shares. Simple. 

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