Cobra Beer has confirmed it is in talks with "several interested parties" with a view to lining up investment in the company.

The UK-based company, which last month posted a massive loss in its latest full-year figures, was responding today (28 July) to press reports claiming that Diageo is poised to take a 30% stake in Cobra.

The Economic Times in India, citing unnamed sources, said over the weekend that Diageo was in "fairly advanced discussions" to acquire the stake for around US$100m.

Speaking to just-drinks today, Cobra's CEO, Adrian McKeon, said: "Following media speculation, we'd like to clarify Cobra Beer's position regarding potential investment in the business. It is no secret that we're keen to secure fresh investment to help drive Cobra's ambitious long-term growth in the UK and India.

"We can confirm that we've initiated discussions with several interested parties in recent months. However, at this stage no agreement has been reached with any investors and we are not able to comment further."

A spokesperson for Diageo confirmed to just-drinks that the company "has reviewed a possible link with Cobra.

"There is no certainty at this stage such consideration will result in a transaction," the spokesperson added, declining to detail what the review of a possible link covered.

In June, Cobra posted a net loss for the year to the end of July last year of GBP13m (US$25.4m), compared to a net loss in the previous fiscal year of GBP4.5m. Operating losses more than doubled, to GBP6.6m from GBP2.7m a year earlier. The company recorded the losses despite a lift in sales for the 12-month period to GBP43.2m from GBP30.3m.

The company has also said this year that it may decide to list its shares through an initial public offering, merge the company, or sell it to an interested buyer within the next three years.