Brookfield/Qube consortium $9.05 billion acquisition of Asciano

Overview:

• A consortium led by Brookfield Infrastructure and Qube has acquired Asciano for $9.05 billion.
• The deal will be enacted via a scheme of arrangement. 
• An SPV (BidCo) was set up to acquire Asciano.
• A Rail consortium made up of Global Infrastructure Management (GIP), Canada Pension Plan Investment Board (CPPIB), CIC Capital Corporation (CIC Capital), GIC and British Columbia Investment Management Corporation would own the BidCo.
• Asciano’s Patrick Terminals business was sold for $2.915 billion to Qube and the Brookfield consortium. Asciano’s Bulk and Automotive Port Services business was sold to the Brookfield consortium for A$925 million.
• ANZ, Citi, CBA, NAB and SMBC provided part of the financing to Brookfield and Qube.
• Qube is separately raising A$800 million of equity to pay for its share.

Katrin Kostadinova - Data analyst