Brookfield Infrastructure Consortium To Acquire Asciano Ltd. - Quick Facts

(RTTNews) - Brookfield Infrastructure (BIP, BIP_U.TO) announced a binding agreement, together with its institutional partners to acquire the entire issued capital of Asciano Limited (AIO.AX), a high quality rail and port logistics company in Australia.

The transaction has received the unanimous support of the Asciano Board of Directors and will be implemented by a scheme of arrangement under Australian law which will see Asciano shareholders receive an implied value of about A$9.15 per Asciano share.

As per terms of the proposed transaction, Asciano shareholders making a "standard" mix and match election, will receive A$6.94 in cash and 0.0387 Brookfield Infrastructure limited partnership units or BIP units.

These elements combine to represent a total implied value of A$9.15 per Asciano share, made up of A$6.94 in cash and A$2.21 in BIP Units.

As permitted under the Scheme Implementation Deed, if the transaction proceeds, Asciano expects to pay a fully franked special dividend of up to A$0.90 per share before the Scheme Implementation Date. To the extent that a Special Dividend is paid, the cash component of the consideration will be reduced by the amount of the Special Dividend.