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Brookfield, Qube Team Up On Bid For Australian Logistics Giant


A Brookfield Asset Management-led consortium (with British Columbia Investment Management Corp and Qatar Investment Authority) has joined with a former rival group headed by Qube Holdings—including Canada Pension Plan Investment Board and Global Infrastructure Management—in a $6.8B takeover bid for Australian logistics giant Asciano Ltd, Bloomberg reports. The company owns a railway as well as port and terminals businesses in Sydney (above), Melbourne, Brisbane and Perth. The groups propose splitting up rail and port assets to assuage competition concerns. [Bloomberg]