Asciano confirms Patrick sales talks

Asciano is fielding offers for a non-controlling stake in Patrick Terminals.

Asciano Limited has confirmed it is in discussions with third parties to sell a non-controlling stake in its terminals and logistics division Patrick Terminals.

The announcement comes amid speculation China Merchants Group put forward a $1.1 billion offer for a majority stake in the business, which runs international container terminals in Sydney, Melbourne, Brisbane and Perth.

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