By  on July 24, 2012

SYDNEY — TPG Capital has launched a fresh takeover offer for troubled surfwear brand Billabong International Ltd.

The Gold Coast, Queensland-based company said in a statement to the Australian Securities Exchange on Tuesday morning it had received an indicative, nonbinding and conditional proposal from TPG Capital to acquire all the shares in the company in an offer that values Billabong at 695 million Australian dollars, or $716 million.

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