Altamont Looks Set To Officially Take Its Major Stake In Billabong Today

A new dawn. Photo: Getty Images

According to a report, private equity group Altamont will take its major stake in Billabong today, and move ahead with a buy-out of the company’s DaKine brand.

The Australian Financial Review is reporting Altamont Capital Partners will officially move on its $395 million Billabong rescue package on Tuesday, which could see it in control of 40% of the company.

Meanwhile, it was also reported soon-to-be Billabong boss Scott Olivet is travelling internationally, visiting key accounts and staff, getting ready to take over from Laura Inman.

Read more here.

Now read: Hedge Funds Have Asked Australia’s Takeover Regulator To Delay The Billabong-Altamont Deal

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