Newspaper article The Canadian Press
Canadian Fund Managers Combine Forces in Joint Bid for Aussie Rail, Port Group
Article excerpt
Canadian fund managers make deal in Australia
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Three of Canada's largest fund managers are part of a joint proposal by two bidders to buy and break up Asciano Ltd., an Australian rail, port and terminal group.
The initiative involves the Brookfield Asset Management group, the British Columbia Investment Management Corp. and the Canada Pension Plan Investment Board.
The Brookfield-led consortium includes the B.C. pension and investment fund manager, while the CPPIB was part of a rival bid group headed by Qube Holdings.
Together with their various allies, the Canadian fund managers are proposing to jointly buy Asciano and then split up its component businesses, which include the Pacific National railway system, the Patrick container terminals and the BAPS bulk and automotive services business. …
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