TRANSPORTATION – AUSTRALIA

Asciano break-up ratings risk warning

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 23 : 12-Nov-15

Ports and rail group Asciano currently has a credit rating of "Baa2" with a negative outlook from Moody’s Investors Service. The ratings agency has indicated that Asciano’s credit rating could be downgraded if a proposed takeover and break-up of the group proceeds without a reduction in its debt. The Qube Holdings-led consortium is offering $A9.25 per share, and is hoping to trump the bid from Brookfield Infrastructure Partners.

CORPORATES
ASCIANO LIMITED – ASX AIO, MOODY’S INVESTORS SERVICE INCORPORATED, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, CANADA PENSION PLAN INVESTMENT BOARD, GLOBAL INFRASTRUCTURE PARTNERS, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, WESTBOURNE CREDIT MANAGEMENT, McMILLAN SHAKESPEARE LIMITED – ASX MMS, LIFESTYLE COMMUNITIES LIMITED – ASX LIC, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, MACQUARIE WEALTH MANAGEMENT, AURIZON HOLDINGS LIMITED – ASX AZJ

Asciano weighs up ‘doability’ of Qube bid

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Original article by Jenny Wiggins, Sarah Thompson, Anthony Macdonald, Patrick Hatch
The Australian Financial Review – Page: 17 & 22 : 11-Nov-15

Shares in port and rail group Asciano closed $A0.26 higher at $A8.99 in response to a takeover approach from a consortium led by Qube Holdings. The indicative cash and scrip bid values Asciano at $A9.25 per share, while the bid from Brookfield Infrastructure Partners is currently valued at $A9.22 per share. The Qube consortium also includes Global Infrastructure Partners and the Canada Pension Plan Investment Board. The consortium is seeking due diligence, and could make a formal offer by mid-December 2015.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Corrigan swoops on Asciano

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Original article by Jenny Wiggins, Anthony Macdonald, Sarah Thompson
The Australian Financial Review – Page: 1 & 12 : 30-Oct-15

Brookfield Infrastructure Partners’ $A8.9bn takeover bid for Asciano has received a setback after Qube Holdings lifted its stake in the target from around five per cent to 19.9 per cent on 29 October 2015. Qube paid $A8.80 per share, compared with Asciano’s closing price of $A7.56. Qube has declined to comment on its intentions regarding Asciano, but it opposes the Brookfield bid and is believed to be planning to break up Asciano and retain its ports division.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, UBS HOLDINGS PTY LTD, AURIZON HOLDINGS LIMITED – ASX AZJ, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, RBC CAPITAL MARKETS, CREDIT SUISSE (AUSTRALIA) LIMITED

SeaLink and Rich Lister Little eye Melbourne ferry services

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Original article by Simon Evans
The Australian Financial Review – Page: 31 : 28-Oct-15

Australian-listed SeaLink Travel Group is examining the feasibility of operating passenger ferries from Wyndham, Portarlington and Williamstown to the Docklands precinct in Melbourne. The group is working on the proposal with property developer and former Toll Holdings CEO Paul Little. SeaLink operates ferry services in South Australia and New South Wales.

CORPORATES
SEALINK TRAVEL GROUP LIMITED – ASX SLK, TOLL HOLDINGS LIMITED, LITTLE PROJECTS PTY LTD, CAPTAIN COOK CRUISES TRAVEL PTY LTD, TRANSIT SYSTEMS PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Brookfield pressed on Asciano bid

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Original article by Perry Williams, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 1 & 10 : 2-Jul-15

Australian-listed transport infrastructure group Asciano has advised that Canada’s Brookfield Asset Management made an indicative takeover offer on 26 June 2015. The $A9bn non-binding bid values the target at $A9.05 per share, but Jakov Males of UBS Global Asset Management believes that an offer of around $A10 per share would be more appropriate. The proposed takeover bid comprises a cash component and shares in Brookfield Infrastructure Partners.

CORPORATES
ASCIANO LIMITED – ASX AIO, BROOKFIELD ASSET MANAGEMENT INCORPORATED, BROOKFIELD INFRASTRUCTURE PARTNERS LP, UBS GLOBAL ASSET MANAGEMENT (AUSTRALIA) LIMITED, DEUTSCHE BANK AG, FIDELITY INVESTMENTS AUSTRALIA LIMITED, SABMILLER PLC, FOSTER’S GROUP LIMITED, TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED, MULTIPLEX LIMITED, PACIFIC NATIONAL PTY LTD, PATRICK CORPORATION LIMITED, COLONIAL FIRST STATE GROUP LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, GRESHAM PARTNERS LIMITED, CITIGROUP INCORPORATED