Coastal have been involved with Billabong since 2013 holding at one stage 7.6% of the company. In 2014 they reduced their stake to just under 5%.
They were at one stage looking to take control of the company battling first Ian Pollard and then later the recapitalization by Oaktree / Centerbridge.
Today's announcement looks like they have moved back to the 5% level, by acquiring around 80,000-90,000 shares.
Seb
BBG Price at posting:
$1.47 Sentiment: None Disclosure: Held
