Recreation Management Software for managing all your program registrations, facility bookings, membership pass sales and Point of Sale; including detailed reporting, automated customer communication…read more
Billabong pays off debts after reaching deal with US private equity firm
Troubled surfing and lifestyle clothing brand company Billabong says it has repaid all its debts under a rescue deal with a US private equity firm.
Billabong has also sold its Dakine sports accessory label to the firm, Altamont Capital Partners, as agreed under the deal.
Last week, Billabong announced it had taken a $325 million loan from Altamont in return for rights over 15% of its shares.
The company also revealed last week that it had rejected a counter offer from the two companies it owed money, Oaktree Capital Management and Centerbridge Partners.
Those two firms have asked the Takeovers Panel to investigate the Altamont deal, saying it could be anti-competitive.
Billabong has said it disagrees with the basis of Oaktree and Centerbridge's applications, but has made no further public comment.
According to an ABC report, the Takeovers Panel has not yet decided whether to proceed with an investigation.
Billabong has been struggling with poor sales and heavy financial losses since it rejected the first of many takeover offers nearly a year-and-a-half ago.
29th June 2009 - NUTRI-GRAIN AND BILLABONG MOST RECOGNISED SPORTS SPONSORS
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…read more
Headquartered in Brisbane with an Australia-wide network of satellite offices, PaySmart is one of Australia’s largest and longest-standing direct debit billing companies. In 1996 we began…read more
Centaman has been a market leader in Enterprise Software Solutions for the leisure and recreation industry and both profit and not-for-profit attractions since 1991. It offers a wide range of software…read more
Welcome to The Pool Enclosure Company (TPEC). We provide a large range of premium commercial and residential retractable swimming pool, spa and terrace enclosures throughout Australia, servicing…read more
Technogym is the leading company in the Wellness and Fitness field all over the world. With 2,200 employees, 14 branches in Europe, U.S., South America, Asia and Australia, Technogym exports its…read more
Over the past 10 years Debitsuccess has been providing expert billing services to businesses across Australia. Debitsuccess is now the largest full service direct debit provider in Australasia,…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!