Centerbridge Partners and Oaktree Capital have increased their stake in Billabong by buying more shares on the open market, according to a regulatory filing.
The consortium, which beat out Altamont Capital Partners and Sycamore Partners last September to lead the recapitalization of Billabong, increased their stake in the company to 36.23% of the company’s stock, up from 33.25%.
Billabong’s stock is currently trading at about AUD 70 cents per share. The price has ranged from a low of AUD 30 cents to a high of AUD 76 cents in the past 52 weeks.
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