Boardriders' acquisition of Billabong has received federal approval after its announcement of the $210 million sale last week.
The Federal Court of Australia made orders on April 6 approving the scheme of arrangement which will result in a subsidiary of Boardriders acquiring all of Billabong's issued shares.
Billabong has lodged a copy of the orders with ASIC today, at which point the scheme became legally effective.
The company also announced that its shares will be suspended from quotation on the ASX from the close of trade on April 9.
Billabong shareholders will receive a cash payment of $1.05 per Billabong share on the implementation date which is expect to be April 24 as announced at the shareholder meeting on March 28.