Deals
Brookfield Asciano Bid Threatened as Rival Group Takes Stake
- Qube partners with Canada Pension Plan, GIP on 19.99% holding
- CPPIB, GIP interested in rail assets, Qube wants terminals
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A group led by Qube Holdings Ltd., an Australian logistics operator, bought a 19.99 percent stake in Asciano Ltd. under a plan to carve up its rail and port assets and block an A$8.9 billion ($6.3 billion) takeover of the firm by Brookfield Infrastructure Partners.
Qube wants to own Asciano’s Patrick container terminal assets in Australia’s biggest cities while Canada Pension Plan Investment Board and Global Infrastructure Partners are interested in the Pacific National rail business, the Sydney-based company said Friday in a statement. The trio don’t support the Brookfield proposal and won’t vote in favor of it.