News: QUB Qube updates on Asciano acquisition through Joint consortium

March 14 (Reuters) - Qube Holdings Ltd (QUB) :

• Acquisition of Patrick container terminals (QUB)
• All cash consideration of $9.15 per Asciano share
• Joint consortium comprising Qube, GIP, CPPIB, CIC Capital, Brookfield

  Infrastructure, GIC, BCIMC and QIA has entered into a binding agreement to acquire Asciano

• Transaction is expected to be transformational for Qube with significant

  benefits anticipated

• Bid implementation deed in relation to the Qube consortium proposal which was

  previously recommended by the Asciano board on 16 February 2016 is now terminated

• Consideration will be reduced by the amount of any special dividend that is

  paid in respect of the transaction

• "The Asciano board is now unanimously recommending the transaction and that

  Asciano shareholders should vote in favour of the scheme"

• Says ASIC has granted certain relief to the joint consortium and to the Qube

  consortium in connection with the transaction

• Special dividend may enable franking benefits of up to $0.39 per share to be

  distributed to eligible Asciano shareholders

• Brookfield infrastructure, GIC, BCIMC and QIA will acquire bulk & automotive

  ports services business for $925 million