Brookfield Consortium to Acquire Asciano at A$12B EV
August 19, 2015
Brookfield Infrastructure has announced an agreement, together with its institutional partners, to acquire the entire issued capital of Asciano (ASX: AIO). Currently boasting an A$12 billion ($8.8 billion) enterprise value, Asciano is a high quality rail and port logistics company. As outlined in the transaction, current shareholders will receive A$6.94 in cash and 0.0387 Brookfield Infrastructure limited partnership units per share. The combined elements of the share purchase represent a total implied value of A$9.15 per Asciano share, a premium of approximately 39% of the 30 day trading day volume weighted average price of the company leading up to July 1. Brookfield Infrastructure is investing approximately $2.8 billion and expects to hold an ultimate ownership position of about 55% upon completion of the transaction.