Everest Babcock & Brown (EBB) has released a statement in relation to media speculation around a possible sale of its hedge fund business. The Australian Financial Review had previously reported that an announcement on a sale was expected to be made within a month.
In the release, EBB stated: "As previously announced to the market, EBB continues to consider strategic partnerships with institutions and funds management businesses both in Australia and internationally. This process may result in the sale by existing shareholders of their holdings in EBB, or the full sale of EBB."
These discussions have progressed but there is no certainty that any agreement will be reached. We are therefore unable to comment on when or if any potential transactions will occur."
Australian Fund Monitors currently tracks the performance of nine (9) absolute return (or hedge) funds managed by EBB.
