A consortium of private investors and investment bank Babcock & Brown is believed to be close to announcing a takeover deal for embattled Sydney broker Tricom,
The Australian reported.
Tricom has been looking for a buyer since ANZ and other lenders forced the niche broking business to drastically reduce margin loans to clients. The broker was also one party at the centre of an unusual delay in settlements on ASX trades in late January.
Bell Financial Group pulled out of negotiations to buy Tricom earlier this month.