Latest news from Heavy Lift & Project Forwarding International Magazine

Asciano agrees joint consortium bid

March 15 - Australian logistics provider Asciano has entered into binding documentation to sell the company to Brookfield Consortium and Qube Consortium.

The Brookfield Consortium comprises Brookfield Infrastructure Partners, GIC, British Columbia Investment Management Corporation and Qatar Investment Authority; while the Qube Consortium includes Qube Holdings, Canada Pension Plan Investment Board, Global Infrastructure Management and CIC Capital Corporation.

A new vehicle - BidCo - owned by a variety of the investors will acquire 100 percent of the issued capital of Asciano at AUD9.15 (USD6.82) a share.

The transaction will see Asciano sold in separate business units, with Qube acquiring 50 percent of Patrick's container terminal business as part of a joint venture with Brookfield and its co-investors. Brookfield and its partners will buy the company's Bulk & Automotive Port Services (BAPS).

The decision wraps up a nine-month bidding war, which has seen previous rivals Qube and Brookfield join forces to secure the deal.

The joint consortium transaction is subject to a number of conditions, including Asciano shareholder approval and the receipt of regulatory approvals.

Heavy Lift | News

UAL vessels gather in Antwerp thumbnail image

UAL vessels gather in Antwerp

August 23 - Three Universal Africa Lines (UAL) ships have been spotted at the port of Antwerp. All three are being loaded with cargoes destined for West Africa.
Views: 478
Höegh rolls to Mombasa thumbnail image

Höegh rolls to Mombasa

August 23 - Höegh Autoliners has shipped 100 breakbulk units destined for a cement plant in Kenya on using two of its ro-ro services.
Views: 431
ALE-Giant executes Formosa works thumbnail image

ALE-Giant executes Formosa works

August 23 - ALE has established a joint venture with Giant Taiwan to handle the movement, transport and storage of wind turbine foundations for the Formosa 1 Phase 2 wind farm.
Views: 366

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.