Asciano looks to sell ports stake
Australian transport group Asciano is in talks with third parties regarding the potential sale of a “non-controlling interest” in its terminals and logistics business division.
In a statement released on its website, the transport group, which owns Patrick Ports and Pacific National Rail, said: “These discussions are preliminary and incomplete and no agreement has been reached with any parties at this stage.”
There has been speculation that China Merchants is looking to buy the stake, but the company stressed that it can “give no assurance that agreement will be reached or that any transaction will take place” and will “keep the market informed as required”.
This comes at a time when competition is high in the ports industry in Australia, with a new ICTSI-led consortium bursting onto the scene in May 2014 after winning the concession of the new third container terminal in the Port of Melbourne.
Patrick has the capacity to handle 3.9 million teu annually and has 26 quay-cranes and 3,578m of quay line around the Australian coast.
