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Billabong International Limited (ASX:BBG) has extended takeover talks with the Sycamore consortium led by the surfwear retailers former US boss Paul Naude.



Billabong says Sycamore has requested an extra 10 days of discussions regarding its non-binding proposal.



The takeover proposal is for 100 per cent of Billabong’s shares, valued at 60 cents per share.



Billabong says it expects the extension to be adequate for the completion of an earnings report and progression of the potential transaction.



Despite this, the company says there is no guarantee the proposed transaction would proceed at the end of the talks.



Billabong reported a net loss of $536.6 million in the first half of fiscal 2013.