×
603
Fashion Jobs
ASIANLAK HEALTH FOODS LTD.
Area Sales Manager
Permanent · Jalandhar
GIRNARSOFT EDUCATION SERVICES PRIVATE LIMITED
Interview || Area Sales Manager || Collegedekho.Com || s. India
Permanent · Chennai
GENESTORE INDIA PRIVATE LIMITED
Area Sales Manager/ Business Development Executive-Mumbai
Permanent · Mumbai
ANAND RATHI
Cluster Head/ Area Sales Manager
Permanent · Chennai
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
MAHALAKSHMI PROFILES PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
ARCHANGEL HR SOLUTIONS
Consultant Planning, Merchandising, Sourcing
Permanent · Chennai
KARADI PATH EDUCATION COMPANY PRIVATE LIMITED
Senior Area Sales Manager - Karadi Path Education Company
Permanent · Chennai
SENSO FOODS PRIVATE LIMITED
Area Sales Manager/sr. Sales Executive For "Corporate Sales"
Permanent · Ahmedabad
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Goa
Permanent · Bengaluru
A2V INSURANCE BROKERS PRIVATE LIMITED
Area Sales Manager
Permanent · Ludhiana
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Mumbai
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Namakkal
Permanent · Namakkal
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
PUMA
Studio Operations Manager
Permanent · Bengaluru
SHASHA GABA
Fashion Consultant
Permanent · NEW DELHI
ELICO LIMITED
Requirement For Production Manager
Permanent · Hyderabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Faizabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Mahoba
ELECTRONICA FINANCE LTD
Area Sales Manager - Machinery Loan(Delhi ,Faridabad & Ghaziabad)
Permanent · Faridabad
IOTECHWORLD AVIGATION PVT LTD
Production Manager Engineer (Design & Development)
Permanent · Gurugram
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
Published
Aug 26, 2013
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Billabong’s agreement with the Altamont consortium is reviewed and approved

Published
Aug 26, 2013

After the announcement of an agreement between Billabong and the Altamont consortium which would have enabled the group of boardsports brands to refinance its debt, an application was filed with the Australian takeover authorities on July 18 by Oaktree Capital Management and Centerbridge Partners, which had offered another proposal.

The refinancing agreement between Billabong et the Altamont consortium was approved by Australian authorities. Image: Sector 9.


The Australian authorities who review corporate takeovers announced that they “declined to make a declaration of unacceptable circumstances” regarding the agreement, which was therefore approved.

However, the panel that reviewed the Billabong-Altamont case pointed out that it gave the go-ahead based in part on the fact that certain provisions initially in the agreement had been removed.

In its press release the Australian government explained that it considered the initial terms of the agreement unacceptable. These called, for example, for a termination fee of 20% of the principal amount provided by Altamont in the event of a change of control of Billabong before January 15, 2014. Additionally, the interest rate on the loan financing would have risen from 12 to 35% if the shareholders failed to agree to certain strategic arrangements. And finally, if the group changed hands, the long-term financing provided by the Altamont consortium would have had to be repaid within two years with a 10% make-whole premium. The Australian authorities deemed these provisions a serious deterrent to rival takeover proposals.

To allay the government's concerns, the terms of the agreement were revised to remove the offending clauses.

Copyright © 2021 FashionNetwork.com All rights reserved.