Firms advise on $8.9bn acquisition

Two major firms are advising on one of Australia’s largest ever takeovers.

Herbert Smith Freehills is advising Brookfield Infrastructure Partners on the proposed acquisition of logistics company, Asciano Limited, one of Australia’s largest takeovers ever.

Asciano, one of Australia’s largest logistics companies, incorporates a number of transport and supply-chain operations including Pacific National, National Rail and Patrick Stevedoring. 

The proposed acquisition under a scheme of arrangement where Brookfield Infrastructure and two institutional partners will acquire all shares in Asciano.

Brookfield Infrastructure Partners, currently listed on both the New York Stock Exchange and the Toronto Stock Exchange, will be listed on the ASX as a condition to successful completion of the transaction.

“We are delighted to be assisting Brookfield on this innovative cross-border transaction,” said lead Herbert Smith Freehills on the transaction.

The transaction will be one of Australia’s largest ever takeovers and the second largest deal in Australia this year.  BHP Billiton’s demerger of South32 remains the largest.

King & Wood Mallesons is advising Asciano, led by partner Stephen Minns.

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