Bloomberg reported that Babcock & Brown Infrastructure Group, owner of Australia's second biggest coal export harbor is examining the potential sale of as much as 49% of the port after drawing interest from potential bidders.

Ms Helen Liossis investor relations manager of Babcock & Brown commented that it will only look to sell down if the price is right. She declined to name interested parties.

Babcock Infrastructure is reported to have issued confidential agreements to potential bidders after a group of mining companies, including Xstrata Plc, made an approach to buy the AUD 2.3 billion Dalrymple Bay port. A sale would help pay debt and secure funds for expansion.

Babcock Infrastructure, which has slumped 955 in Sydney trading in the past 6 months gained as much as 7.6% to 5.7 cents on the Australian stock exchange.