Australia foreign investment watchdog OKs $6.8 bln Asciano buy: Reuters

Australia's foreign investment watchdog cleared the US$6.8 billion buyout of port and rail freight giant Asciano Ltd, the company said, paving the way for the country's biggest foreign takeover in half a decade, Reuters reported. The ruling was widely expected because the deal involves selling half the company's port assets to an Australian company, Qube Holdings Ltd, while the other half goes to Canada's Brookfield Asset Management. Asciano's rail assets are, meanwhile, set to go to a China Investment Corp-led consortium as part of the deal. Canadian Pension Plan Investment Board is a member of that consortium.

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