Asciano (AIO) will express its interest in the Port of Newcastle’s long-term lease before the 1000 AEDT deadline today, The Australian Financial Review reports.
According to the newspaper, Asciano is "weighing a bid" alongside Japan's Marubeni Corporation, while Deutsche Asset & Wealth Management (formerly known as REEF) could join the consortium.
The auction is still only in its preliminary stages but potential buyers are required to express their interest in order to receive the sale documents.
New South Wales premier Mike Baird has previously valued the 98-year lease at $700 million.
The AFR reports the outcome of the bidding process will be known by the next NSW budget in May.