SYDNEY — The battle for Billabong is over, with U.S. hedge funds Oaktree Capital Management and Centerbridge Partners set to take a 40.8 percent stake of the company.
At an extraordinary general meeting at Billabong’s Gold Coast, Queensland, headquarters on Thursday, 92.55 percent of proxy votes were in favor of issuing 329 million shares to the consortium at 41 Australian cents, or 36 cents, each for 135 million Australian dollars, or $119 million, partial payment of a $360 million debt and equity rescue deal initially proposed in September.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)