Ports and rail operator Asciano is in talks over a partial sale of its terminal and logistics business.
Rail freight and ports operator Asciano has confirmed that it is in talks over a possible sale of a non-controlling interest in its terminal and logistics business.
“These discussions are preliminary and incomplete and no agreement has been reached with any parties at this stage,” Asciano said in a statement on Friday.
Asciano did not identify the other parties.
Asciano said it could not assure that agreement would be reached or that any transaction would take place, and would keep investors informed.
The terminals and logistics business operates container stevedoring services at East Swanson Dock in Melbourne, Port Botany in
Sydney, Fisherman Island in Brisbane and Fremantle in Western Australia.
In February, Asciano booked a half-year net profit of $187.5 million, down 4.6 per cent on the half-year net profit of $196.6 million one year earlier.
The terminals and logistics business was affected by weak domestic economic growth and and lower demand for rail services.
Shares in Asciano were 27 cents, or 4.7 per cent, higher at $6.01 at 1035 AEST.