Pursuits
Oaktree May Combine Reorganized Quiksilver With Rival Billabong
- Adviser tells court two brands could be joined `at some point'
- Retailer's bankruptcy plan calls for Oaktree to gain control
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Oaktree Capital Management LP may consider combining bankrupt surfwear retailer Quiksilver Inc. with Billabong International Ltd., a brand the investment firm already owns a stake in, a judge in Delaware was told Wednesday.
Durc Savini, an investment banker at Peter J. Solomon Co. who is working with Quiksilver, testified that “at some point” Oaktree may put the clothing companies together if it’s able to bring Huntington Beach, California-based Quiksilver out of bankruptcy under its control.