Brookfield Infrastructure announced the binding agreement, together with its institutional partners to acquire the entire issued capital of the Australian rail and port operator Asciano Limited. The transaction has received the unanimous support of the Asciano Board of Directors Asciano shareholders will receive an implied value of approximately A$9.15 (USD 6.75) per Asciano share.
As part of the deal, Brookfield Infrastructure will invest USD 2.8 billion for 55% stake in Asciano, while private funds will hold approximately 23%, and two institutional partners will each hold approximately 11%.
Asciano shareholders will receive A$6.94 (USD 5.12) in cash and 0.0387 Brookfield Infrastructure limited partnership units (“BIP Units”).
Asciano’s rolling stock fleet consists in 664 locomotives and over 14,000 wagons which have the capacity to haul 180 million tonnes of freight and are diversified across mineral and bulk haulage, steel and intermodal.
The company’s business is comprised of a network of port and rail assets in Australia that include container terminal operations in major Australian cities including Sydney, Melbourne, Brisbane and Perth that have a capacity of approximately 4.9 million TEUs; port, terminal and supply chain services that support shipping lines, importers, exporters, freight forwarders and customs brokers.
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