tol gets strong interest in pacnat

http://news.ninemsn.com.au/article.aspx?id=119575

Toll gets 'strong interest' in Pacific
Thursday Aug 3 10:07 AEST

Transport conglomerate Toll Holdings Ltd says it has had strong interest in the sale of a 50 per cent stake in its rail business Pacific National.

Toll said it had received more than 40 expressions of interest by July 21, with more expected in the coming weeks.

The company said there was a wide range of interested parties, including domestic and international financial institutions and industry groups.

Toll managing director Paul Little said the company was delighted with the strong market interest in Pacific National.

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"This is a pleasing endorsement by the market of the future for rail as a transport mode, and more generally indicates confidence in the benefits of long term investment in Toll's infrastructure assets," Mr Little said.

"Toll believes that Pacific National, with its new 50 per cent owner, will be well positioned to invest in terminals and infrastructure."

Toll has been ordered to sell its stake in Pacific National by the Australian Competition and Consumer Commission (ACCC) in return for approval of its $6 billion-plus takeover of stevedore Patrick Corp Ltd.

The deal gave it the remaining 50 per cent of Pacific National, of which it already held 50 per cent, along with Patrick's stake in airline Virgin Blue.