Babcock & Brown is unlikely to sell any of its wind farms before October or November as it seeks to avoid a fire sale of assets.

The company remains under pressure to reduce its $3.6 billion of corporate debt, but selling the wind assets is taking longer than expected because of complications in the sale process.

Any sale announcement is not expected before well into the last quarter of this year.

The wind farms are being offered on a country-by-country basis and have attracted interest from a variety of buyers.

B&B had hoped to unveil at least one deal by the end of its third quarter - which finishes on September 30 - but the group is still sifting through initial offers and privately indicating it will not be rushed into sales despite the financial problems that have laid it low over the past year.

The battered fund and asset management group has told investors there is no immediate need to lower its recently renegotiated corporate debt facility and therefore it will not accept low prices for the assets.

But it has sent out strong signals under its new chief executive, Michael Larkin - who replaced Phil Green three weeks ago - that cutting its gearing levels remains a priority in the battle to restore investor confidence.

The market has focused on the prolonged sale of B&B's half-share of wind farms in Portugal and France - known as the Enersis portfolio - which it jointly controls with its listed fund, Babcock & Brown Wind Partners.

The two companies agreed at the end of February to put those assets on the market and offer them jointly to prospective buyers, although both reserved the right to move independently.

BBW last month sold its separate Spanish wind businesses for $1.42 billion and has since given bidders time to consider their offers for its 50 per cent stake in the Enersis assets.

That could take at least another month or so, and have an impact on B&B's parallel sale of its share in Enersis.

At the same time, B&B is trying to sell wind farms in Germany that are attracting a different set of buyers. But those deals will also take time to complete.

The drawn-out sale processes are hampering B&B's efforts to put a floor under its wilting share price, which has given up all of the gains it made following last month's boardroom and management upheavals. The group also abandoned its debt-powered business model.

B&B's stock dived 20 per cent over a two-day period last week as investors, wary about its immediate prospects, sold out.

Having slumped 15 per cent last Thursday - prompting an ASX query - its shares slipped a further 10c, or 5 per cent, to close at $1.90 on Friday.

B&B told the exchange it had no explanation for the sudden drop.