Allens advises Billabong on proposed acquisition by Boardriders

Allens is advising Billabong International Limited on its proposed acquisition by Boardriders, Inc (controlled by funds managed by Oaktree Capital Management LP) for an implied enterprise value of $380 million.

As part of the transaction, it is proposed that Boardriders will acquire all of the shares in Billabong, other than those already owned by its related entities, at a price of $1 per share in cash via a scheme of arrangement.

'We are pleased to be advising Billabong on this transaction and we look forward to the next stage of the deal,' said Guy Alexander, Allens' Head of M&A and lead Partner on the deal.

The deal continues a busy period for Allens, having recently advised on some of the most significant deals in the market, including Unibail-Rodamco's $32 billion acquisition of Westfield, the $3.83 billion sales of ANZ's life and wealth businesses, and AWE's proposed acquisition by Mineral Resources Limited.

Completion of the transaction remains subject to the satisfaction of certain conditions, including shareholder and regulatory approvals and certain other conditions.

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