Globally ambitious Brookfield to acquire Asciano

Brookfield Infrastructure has announced an AU$8.9bn (US$6.6bn) deal to acquire Australian terminal operator Asciano, setting out its intentions to become a major global player in the ports industry.

The subsidiary of Brookfield Asset Management, will invest US$2.8bn for an approximate 55% stake, marking the largest takeover of an Australian company since 2011.

Asciano, which owns Patrick Corporation, currently has container terminal operations in Sydney, Melbourne, Brisbane and Perth, amounting to a total capacity of 4.9m teu, as well as a rail haulage business in Australia.