Australia's Rip Curl says has received approaches

Reuters News
Posted: Sep 16, 2012 11:39 PM

MELBOURNE (Reuters) - Australia's Rip Curl surfwear company said on Monday it has received unsolicited approaches from several international companies looking to invest in the privately held firm.

Rip Curl said in a statement it has appointed Bank of America Merrill Lynch to advise on exploring these opportunities and assess the merits of introducing an investor to the group.

Earlier, a source told Reuters that Rip Curl, founded in 1969, could fetch up to A$480 million ($506 million) in a full sale.

(Reporting by Victoria Thieberger; Editing by Muralikumar Anantharaman)