Latest news from Heavy Lift & Project Forwarding International Magazine

Asciano confirms Brookfield offer

July 1- Recent media speculation has prompted Australia's Asciano, which owns ports and terminals group Patrick, to confirm that it has received a proposal from Brookfield Infrastructure Group (Brookfield) to acquire 100 percent of Asciano's shares, write

Asciano has confirmed that it was sent a confidential, indicative, non-binding and conditional proposal, to acquire Asciano at an implied value of USD9.05 per share in cash and scrip, through a scheme of arrangement. Payment would be a combination of cash and units in Brookfield's listed infrastructure fund, Brookfield Infrastructure Partners LP says Asciano.

To date, no formal proposal has been made and Asciano says that discussions are at an early stage. Consequently, there are many further steps before a formal proposal may even be reached.

However, the board of Asciano, together with its advisers decided further engagement with Brookfield would prove beneficial for its shareholders.

www.asciano.com.au

www.brookfieldinfrastructure.com

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