00:36:04 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Infrastructure Partners LP
Symbol BIP
Shares Issued 163,659,145
Close 2015-07-02 C$ 56.05
Market Cap C$ 9,173,095,077
Recent Sedar Documents

Globe says Brookfield Infra mulls Australian rail buy

2015-07-03 07:59 ET - In the News

The Globe and Mail reports in its Friday edition Brookfield Infrastructure Partners is poised to expand its rail investment through a deal for Australia's only operator of both rail freight and ports. The Globe's Jacqueline Nelson writes Brookfield has entered into exclusive talks to acquire Asciano Ltd. Brookfield Infrastructure and other institutional partners offered $9.05 (Australian) a share, valuing the deal at $8.8-billion (Australian). Brookfield has been directly involved in Australia's rail industry for about 15 years. It now manages and runs a 5,500-kilometre freight network in the southern half of Western Australia. This rail network provides a passage for commodities such as grains to government-owned ports. In addition to trains, Asciano also operates container terminals and port facilities to move raw resources as well as retail products by land and sea. By the end of Asciano's fiscal 2016 year, the company will have spent about $2-billion upgrading its infrastructure with locomotives, new cranes and improved automation in a five-year period. The sale talks are in early stages. Brookfield Infrastructure closed Thursday at $23.88, up 22 cents on the Toronto Stock Exchange.

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