Australia's QUBE grabs 20 pct Asciano stake, blocking $6.5 bln Brookfield bid

Thu Oct 29, 2015 5:52pm EDT
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SYDNEY Oct 30 (Reuters) - Australian logistics firm Qube Holdings Ltd said on Friday it and partners had bought a near 20 percent stake in freight firm Asciano Ltd, seeking to block a $6.5 billion bid from Canada's Brookfield Asset Management.

Confirming a Reuters report on Thursday, QUBE said it had joined forces with Global Infrastructure Partners and Canada Pension Plan Investment Board, aiming to split the assets of Asciano.

Qube said it wanted to combine with Asciano's Patrick Containers Terminal business, while GIP and CPPIB were interested in Asciano's Pacific National rail business. (Reporting by Lincoln Feast; editing by John Stonestreet)