Feb 23 (Reuters) - Billabong International Ltd BBG.AX :
* Announces sale of Tigerlily
* Entered into binding documentation to sell Tigerlily business to Crescent Capital Partners
* Sale of Tigerlily will raise $60 million, with net proceeds from sale used to retire debt
* Expected to contribute between $7 million and $8 million in EBITA to billabong for 2017 financial year Source text for Eikon: ID:nASX7XSLRG Further company coverage: BBG.AX