bidders, page-2

21 minutes ago now from cargonews


Stevedoring giants Patricks and P&O dominate the Port of Brisbane and their parent companies would be logical suitors to buy Queensland's largest cargo terminal, the Courier-Mail reported.

But struggling rail and ports operator Asciano, which owns Patricks, is for sale as it battles to cope with US$3.9 billion in debt.

Up to six full or partial takeover offers are expected to be lobbed for Asciano by the end of the week.

Any one of these potential buyers would be likely to have an interest in acquiring the Port of Brisbane.

Toll Holdings managing director Paul Little said yesterday that whoever took over Asciano “may be a prime candidate'” to snare the port.

Mr Little, whose transport company hived off Asciano, said he might be interested in the rail assets put up for sale by the Queensland Government but not the port.

“We're not stevedores and don't aspire to be major stevedores in Fisherman Islands,” he said.

Interest in the port may also extend overseas, with bids possible from the likes of the Port of Singapore or Hutchinson Whampoa.