Finance / Australia
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Asciano Rejects US$2.7bn Private Equity Bid
August 2008 | Private Equity News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The infrastructure theme in Asia continues this week with the decision by Australian port firm Asciano to reject a US$2.7bn bid by TPG Capital and Global Infrastructure Partners, claiming the offer undervalued the business. Spun off from transport group Toll Holdings in June 2007, Asciano owns and operates the US$8bn of transport infrastructure assets and operations that Toll acquired over the previous decade. Now Australia's biggest port and rail operator, the country has prospered on the back of rising commodity prices.