Babcock and Brown has confirmed that it has received expressions of interest from a number of parties wanting to establish a strategic relationship with the firm.
"The process is at a preliminary stage and there is no certainty that any agreement will eventuate," a Babcock and Brown statement to the market said today.
"As the process has only recently commenced, no formal timetable for resolution of any agreement has yet been determined although Babcock and Brown would expect the process to continue into the new year."
The statement came after media reports cited Babcock and Brown had sent documents to several private equity firms regarding a strategic investment or a complete takeover.
Babcock and Brown's shares have plummeted from $31.08 a year ago, to $1.40 as of yesterday, on concerns about its level of debt.
