Asciano $6.8 billion buyout clears final hurdle with Australian court approval
SYDNEY - A A$9.1 billion ($6.8 billion) buyout of Australian port and rail freight giant Asciano Ltd by global investors was approved by a court on Thursday, clearing the final hurdle for the country's biggest foreign takeover in five years.
Announcing the Supreme Court of New South Wales state had cleared the deal, Asciano said on Thursday its shares will stop trading on July 29. Stockholders will receive payments on Aug. 19.
After rival bids and regulatory concerns held up a deal originally scheduled for completion by the end of 2015, the buyout was cleared by Australia's antitrust regulator and the country's Foreign Investments Review Board this month.
The takeover involves selling Asciano's port assets in a split between Canada's Brookfield Asset Management Inc (BAMa.TO) and Australian stevedoring company Qube Holdings Ltd (QUB.AX), while a consortium involving government-owned China Investment Corp [CIC.UL] will take its rail assets. -Reuters
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
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