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More on the table, signals Asciano

Wednesday, 18 Mar 2009 ( #402 ) - Melbourne, Victoria, Australia
Local News Story
Asciano may consider the sale of up to 100% of either its coal or container ports business. Photo source: Port of Brisbane
Transport infrastructure giant Asciano has signalled, via an announcement this week to the Australian Securities Exchange, that it will widen the scope of its monetisation process beyond its coal business.

According to the statement: "In response to multiple expressions of interest/proposals from a range of industry and financial parties in relation to a variety of potential transactions, Asciano’s monetisation process now includes formal and concurrent consideration of:
• the sale of up to 100% of either its Coal or Container Ports business;
• proposals received in respect of other assets and businesses; and
• proposals received in relation to transactions that would result in a change of control and/or a recapitalisation of the group.

"Proposals will be assessed based on delivering the maximum value to all securityholders.

"Asciano’s objective remains to announce a transaction by the end of the current financial year."

ABN AMRO and Lazard Carnegie Wylie have been appointed to advise Asciano.
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