Asciano confirms interest in equity sell-off
Port operator Asciano has confirmed it is talking with third parties over potentially selling a slice of its Patrick Terminals and Logistics division.
In a statement, Asciano said the discussions are at the preliminary stage and would only involve a non-controlling interest.
Media reports have suggested Chinese Merchants Group is interested in a stake in the Asciano terminals but Asciano itself (which is publicly listed) has not identified the potential buyer.
Recently, Asciano’s John Mullen has pointed to the potential for strategic partnerships with a global player. He commented: “If we can get some strategic benefit by teaming up with a global player who brings a lot more than just giving us a cheque for X% of the equity – if we can team up with someone who then gives us global customer relationships, global procurement – all of those sorts of things, then that’s quite attractive to us.” Asciano gave no assurance that an agreement will be reached.
