Asciano Ltd.
Brand
Asciano Ltd. was a freight logistics company, operating in railway freight and shipping. Asciano was demerged from Toll Holdings in 2007, and owned Patrick Corporation and Pacific National as subsidiary companies. Asciano specialised in bulk and container shipping and transportation, with port and train operations across Australia. It had over 8,000 employees. It was an ASX 50 company.
In June 2015, Brookfield Infrastructure Partners launched a takeover offer for the company, and Qube Holdings later made a counter offer. The offers had attracted the attention of the Australian Competition and Consumer Commission, with both already owning transport and port operations in Australia.
Subject ID: 44772
MoreAsciano Ltd. was a freight logistics company, operating in railway freight and shipping. Asciano was demerged from Toll Holdings in 2007, and owned Patrick Corporation and Pacific National as subsidiary companies. Asciano specialised in bulk and container shipping and transportation, with port and train operations across Australia. It had over 8,000 employees. It was an ASX 50 company.
In June 2015, Brookfield Infrastructure Partners launched a takeover offer for the company, and Qube Holdings later made a counter offer. The offers had attracted the attention of the Australian Competition and Consumer Commission, with both already owning transport and port operations in Australia.
On 3 June 2016, shareholders of Asciano voted in favour of the takeover bid with the Foreign Investment Review Board announcing that it had no objections for the offer on 27 July 2016. The scheme implementation date was set on Friday 19 August 2016 where payment of the Scheme consideration took place and the transaction was to be completed.
Subject ID: 44772
Subject ID: 44772
