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USD 8.85 bn acquisition of Australian port and railroad operator Asciano Limited

Brookfield Infrastructure, part of a consortium, has announced a binding agreement to acquire the entire issued capital of Asciano Limited, Australian rail and port logistics company with an enterprise value of approximately in a cash-and-stock deal that values Asciano at about AUD 12 billion (USD 8.85 billion).

“This transaction enables us to acquire premier transport infrastructure assets in a geography we know well and establish two leading global platforms, with solid long-term prospects,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “Combining Asciano’s Australian container terminals with our existing assets in North America and Europe provides the foundation for a global container platform. In addition, Asciano’s leading above-rail operations, together with our Australian and Brazilian logistics businesses, create a powerful, international rail logistics business.”

Asciano Chairman Malcolm Broomhead said, “We are pleased to recommend to our shareholders this compelling transaction with Brookfield Infrastructure. Asciano’s businesses are unique and highly strategic. Pacific National is one of the largest providers of above rail freight haulage services in Australia. Patrick is a leading business in bulk ports and stevedoring, with a presence in over 40 sites in Australia and New Zealand.”

The combination of Brookfield Infrastructure and Asciano will create a leading global rail, port and logistics business. Asciano’s business is comprised of a unique 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; and
  • nationwide above rail haulage operations with assets consisting of 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.

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