INTERNATIONAL COAL NEWS

Asciano's shortlist delayed

PORT and rail operator Asciano has pushed back the bid deadline for its port and rail assets, inc...

Angie Tomlinson

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According to a report by the Australian Financial Review, several prospective bidders had requested an extension to today’s deadline, with Asciano granting them a grace period until Friday.

Last month, Asciano said it had received multiple expressions of interest from a range of industry and finance-sector parties.

The company was accepting bids for up to 100% sales of its coal or container ports business divisions and proposals for other assets and businesses of the group.

Signalling a possible takeover, Asciano said in March proposals had been received that would result in a change of control or a recapitalisation of the group.

Asciano had a net debt of $A4.59 billion at the end of last year and hopes to cut its debt by $1 billion through the sale of assets.

In mid-morning trade today on the Australian Securities Exchange, the company was up 6.1% to $1.12.

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