Wharfies to strike over pay scheme

Original article by Ewin Hannan
The Australian – Page: 2 : 15-Mar-19

DP World’s container terminal at Fremantle will be affected by work bans and rolling stoppages from 19 March. The indefinite industrial action is likely to be extended to DP World’s other container terminals in Australia in coming weeks unless the dispute is resolved. The Maritime Union of Australia has objected to DP World’s proposal to scrap an income protection scheme. The union is also seeking an annual pay rise of five per cent over three years, but DP World has offered a 2.6 per cent increase.

CORPORATES
DP WORLD AUSTRALIA PTY LTD, MARITIME UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION

Ports, mine targeted in CFMEU hit

Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 15-Jan-19

Hutchison Ports Australia will be subject to industrial action by the militant Construction, Forestry, Maritime, Mining & Energy Union. Work bans will commence on 17 January, in response to the stevedoring group’s push to reduce pay rates and leave entitlements under a new workplace agreement. Hutchison will apply for an order from the Fair Work Commission requiring the union to give five days’ notice prior to launching the industrial action. Meanwhile, CFMMEU members at the Wongawilli Colliery in New South Wales have voted to extend strike action for a second week.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, HUTCHISON PORTS AUSTRALIA PTY LTD, WOLLONGONG COAL LIMITED – ASX WLC, JINDAL STEEL AND POWER LIMITED, CAS MINE SERVICES PTY LTD, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

FWO loses bid to impose record fine against MUA

Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 22-Jun-18

The Federal Court has ordered the Maritime Union of Australia to pay a $A38,000 fine over strike action at Hutchison Ports’ container terminals in 2015. The Fair Work Ombudsman had sought fines of up to $A3.5m over the unlawful industrial action, arguing that each work stoppage should have been treated as a separate breach of the Fair Work Act. Justice Jayne Jagot ruled that the strike comprised a single course of action and rejected the FWO’s push for Hutchison to be awarded more than $A620,000 in damages.

CORPORATES
MARITIME UNION OF AUSTRALIA, HUTCHISON PORTS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA

MUA in court over ports picket

Original article by Ewin Hannan
The Australian – Page: 4 : 9-Dec-16

The Fair Work Ombudsman has launched legal action against the Maritime Union of Australia over unprotected industrial action in August 2015. The union picketed Hutchison Ports’ container terminals in Sydney and Brisbane, and organised work stoppages in response to the company’s move to retrench 97 employees. The FWO wants the MUA to pay compensation to Hutchinson, arguing that the industrial action breached workplace laws and an enterprise agreement.

CORPORATES
MARITIME UNION OF AUSTRALIA, HUTCHISON PORTS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA

Asciano to delist after FIRB clears $9b takeover

Original article by Jenny Wiggins
The Australian Financial Review – Page: 21 : 28-Jul-16

The $A9.05 billion takeover of Asciano by a Qube Holdings-led consortium is expected to be approved by the Supreme Court of New South Wales on 28 July 2016. It has already received approval from the Australian Competition & Consumer Commission and the Foreign Investment Review Board. The deal involves Qube and Brookfield Infrastructure Partners taking over Asciano’s Patrick container ports, while five international pension funds will assume the ownership of the Pacific National rail freight business.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN CONTAINER FREIGHT SERVICES PTY LTD, DP WORLD AUSTRALIA PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, MONADELPHOUS GROUP LIMITED – ASX MND, MUHIBBAH ENGINEERING BHD, PACIFIC NATIONAL PTY LTD, PATRICK CORPORATION LIMITED

Patrick bid to end dispute on enterprise agreement

Original article by Ewin Hannan
The Australian Financial Review – Page: 10 : 24-Jun-16

Stevedoring firm Patrick wants the Fair Work Commission to intervene in a dispute over a new enterprise agreement with the Maritime Union of Australia. Patrick will ask the commission to order the union to respond to the company’s proposal, which was made in April 2016. The union criticised the move but it said it has no plans to put pressure on the company through industrial action before the federal election on 2 July.

CORPORATES
PATRICK CORPORATION LIMITED, ASCIANO LIMITED – ASX AIO, MARITIME UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION

ACCC’s concerns delay Asciano deal

Original article by Perry Williams
The Australian Financial Review – Page: 22 : 27-May-16

The Australian Competition & Consumer Commission will not make a final ruling on the $A9bn takeover of ports and rail group Asciano until 21 July 2016. The ACCC’s statement of issues raises a number of concerns regarding the proposed deal, including the impact on competition if the sale of Asciano’s stake in the ACFS Port Logistics joint venture proceeds. The ACCC will accept submissions on its statement of issues until 10 June.

CORPORATES
ASCIANO LIMITED – ASX AIO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ACFS PORT LOGISTICS PTY LTD, BROOKFIELD INFRASTRUCTURE PARTNERS LP, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, QATAR INVESTCO, BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION, QUBE HOLDINGS LIMITED – ASX QUB, PATRICK CORPORATION LIMITED, SUPREME COURT OF NEW SOUTH WALES, PACIFIC NATIONAL PTY LTD, CANADA PENSION PLAN INVESTMENT BOARD, CIC CAPITAL CORPORATION, DBCT HOLDINGS PTY LTD

Corrigan’s full circle as Qube takes ports

Original article by Andrew White, Gretchen Friemann
The Australian – Page: 19 &20 : 16-Mar-16

Ports and rail group Asciano has recommended that shareholders accept a takeover bid led by Qube Holdings and Brookfield Infrastructure Partners. The $A9.05bn deal will result in Asciano being broken up, with Qube and Brookfield set to pay $A2.92bn for the Patrick container terminals business. A consortium of international investment funds will buy the bulk of Asciano’s assets, including the Pacific National rail freight business. Qube chairman Chris Corrigan was CEO of Patrick Corporation when it was acquired by Toll Holdings in 2006.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, TOLL HOLDINGS LIMITED, CANADA PENSION PLAN INVESTMENT BOARD, GLOBAL INFRASTRUCTURE PARTNERS, CHINA INVESTMENT CORPORATION, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION, QATAR INVESTMENT AUTHORITY, AUSTRALIAN AMALGAMATED TERMINALS PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSBIL INVESTMENT MANAGEMENT LIMITED, NATIONAL FARMERS’ FEDERATION LIMITED

Qube and Brookfield put aside rivalry in joint bid for Asciano

Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 24-Feb-16

Shares in ports and rail group Asciano closed $A0.14 higher at $A9.01 on 23 February 2016, after its two suitors joined forces to propose a combined offer of $A9.28 per share. Qube Holdings and Brookfield Infrastructure Partners have been engaged in a long-running takeover play for Asciano, but their new proposal would result in them each holding a 50 per cent stake in the Patrick ports division. Their consortium partners would in turn acquire the Pacific National rail arm.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, BROOKFIELD ASSET MANAGEMENT INCORPORATED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN AMALGAMATED TERMINALS PTY LTD, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, CIC CAPITAL CORPORATION

Asciano recommends Qube bid and invokes break fee

Original article by Jenny Wiggins
The Australian Financial Review – Page: 15 : 17-Feb-16

Directors of listed ports and rail group Asciano have backed the $9.05bn takeover offer from a consortium headed by Qube Holdings. Asciano will pay a break fee of $A88m to rival bidder Brookfield Infrastructure Partners, whose takeover offer had previously been endorsed by the target’s board. Qube subsequently trumped Brookfield’s offer, and the Canadian suitor failed to match its bid by the deadline of 15 February 2016. However, Brookfield could still make a revised offer.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, CHINA INVESTMENT CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PSP INVESTMENTS PTY LTD, QATAR INVESTMENT AUTHORITY, BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD