Brookfield deal to buy Asciano hits bump with Australian regulator

TORONTO – A deal by Brookfield Infrastructure Partners (TSX:BIP.UN) to buy rail and container terminal company Asciano Ltd. has run into difficulty with Australia’s competition regulator.

The Australian Competition and Consumer Commission has rejected the company’s proposals to address concerns about the takeover.

But the regulator says it expects to make a final decision regarding the deal Dec. 17.

Brookfield Infrastructure say it’s assessing the announcement and evaluating its alternatives for addressing the issues raised by the regulator.

It says it is committed to working co-operatively with the commission.

Asciano’s Patrick subsidiary owns and manages container terminals in Sydney, Melbourne, Brisbane and Perth and its Pacific National subsidiary operates a rail transportation business with 664 locomotives that operate across Australia.