Asciano buyout clears final hurdle with Australian court approval: Reuters
The US$6.8 billion buyout of Australian port and rail freight giant Asciano Ltd by global investors was approved by a court on Thursday, clearing the final hurdle for the country's biggest foreign takeover in five years, Reuters reported. The takeover involves selling Asciano's port assets in a split between Canada's Brookfield Asset Management and Australian stevedoring company Qube Holdings Ltd, while a consortium involving government-owned China Investment Corp will take its rail assets. Canada Pension Plan Investment Board is partnering with CIC on the rail-assets acquisition, while British Columbia Investment Management Corp is investing alongside Brookfield.
28 July 2016•1 min read
