| Astralian logistics giant Asciano said it was recommending a US$6.8 billion takeover deal between two rival local and international suitors, breaking up the company’s ports and rail assets. Yesterday’s announcement ended a bidding war for Asciano between a consortium led by Canada’s Brookfield Infrastructure Group and a group led by Australia’s Qube that includes a Chinese sovereign wealth fund.
Qube will split the ports business with Brookfield, whose consortium members include government wealth fund the Qatar Investment Authority. Another grouping, which includes China’s CIC Capital Corp, Singapore’s state investment fund GIC, the Canada Pension Plan Investment Board, investment group Global Infrastructure Partners, and the British Columbia Investment Management Corp, will acquire the rail operations...............................................Full Article: Source
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