Action sports retailer West 49 has told the Toronto Stock Exchange it has successfully completed its sale to Billabong International.
Billabong has acquired all of the outstanding common shares and preferred shares of the company for a cash purchase price of CAD$1.30 (US$1.23) per share.
“The completion of the sale of West 49 to Billabong marks the culmination of the respective contributions of West 49 Inc’s employees, management team, board of directors and everyone else who has played a role in the company’s significant success over the past 15 years,” said Salvatore Baio, president and chief executive officer of West 49.
“I would like to take this opportunity to thank all of them for their contributions, as well as our loyal shareholders for their support throughout our years as a public company. Together with the West 49 Inc team, we now look forward to building on past success as part of Billabong’s exceptional group of companies.”
With the completion of the plan of arrangement, the company’s common shares are expected to cease to be listed for trading on the Toronto Stock Exchange on or about the close of business today (1 September).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
