Brookfield Expands Logistics Ops into Australia

HAMILTON, Bermuda—A consortium led by Brookfield Infrastructure Partners has agreed to acquire Australian rail and port logistics company Asciano Ltd. for approximately US$8.8 billion. BIP itself will invest US$2.8 billion for a stake of approximately 55%; the company says the deal creates a new global rail, port and logistics business.

“Combining Asciano’s Australian container terminals with our existing assets in North America and Europe provides the foundation for a global container platform,” says BIP CEO Sam Pollock. “In addition, Asciano’s leading above-rail operations, together with our Australian and Brazilian logistics businesses, create a powerful, international rail logistics business.”