The new deal to take over ports and rail operator Asciano, could see a shake up in the transport industry. The latest news about Brookfield Infrastructure’s proposed take over of Asciano values the business at $12 billion, according to Asciano, but $8.9 billion, according to the Sydney Morning Herald.
Either way, the wash up of the take over proceedings, this year, have seen the two entities, formed after Toll’s takeover of Patrick Corporation both sold off at a total value of, at least, $15.4 billion. The latest deal will see Brookfield, who currently own railway assets in Western Australia, extend into the Pacific National rail network, as well as Patrick’s stevedoring and car handling interests.
A report in the Fairfax press suggests this may only be the start of Brookfield’s ambitions in this field. If, as the article surmises, the government sells off the Australian Rail Track Corporation and Brookfield out-bids Aurizon for ownership of Australia’s rail tracks, then Brookfield will own rail infrastructure and above rail operations from the East to the West Coasts.
The cashed up, Bermuda based operation, Brookfield are also looking to expend their ports operation well beyond the current Patrick set-up, expanding as a worldwide ports operator to take on DP World globally.