Former type Public Headquarters Melbourne, Australia Defunct 16 August 2016 | Traded as ASX: AIO Founded 2007 | |
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Industry Transport, Logistics, Stevedoring and Rail transport Successor Pacific National, Patrick Container Terminals,
Bulk & Automotive Port Services Key people Malcolm Broomhead, Chairman
John Mullen, CEO
Roger Burrows, CFO Subsidiaries Pacific National
Patrick Corporation | ||
Asciano Limited was an Australian freight logistics company, operating in railway freight and shipping. Asciano was demerged from Toll Holdings in 2007, and owns Patrick Corporation and Pacific National as subsidiary companies. Asciano specialised in bulk and container shipping and transportation, with port and train operations across Australia. It had over 8,000 employees. It was an ASX 50 company.
In June 2015, Brookfield Infrastructure Partners launched a takeover offer for the company, and Qube Holdings later made a counter offer. The offers had attracted the attention of the Australian Competition and Consumer Commission, with both already owning transport and port operations in Australia.
On 3 June 2016, shareholders of Asciano voted in favour of the takeover bid with the Foreign Investment Review Board announcing that it had no objections for the offer on 27 July 2016. The scheme implementation date was set on Friday 19 August 2016 where payment of the Scheme consideration took place and the transaction was be completed. After this date the assets of Asciano were to be divided as below.