SYDNEY, May 18 (Reuters) - Australian ports and railway
company Asciano Ltd AIO.AX on Wednesday said its A$9.1 billion
($6.65 billion) sale to an international consortium will be
pushed back by regulatory delays due to a federal election.
Asciano said it had agreed to a request from Australia's
Foreign Investment Review Board to delay the approvals process
as the watchdog will cease operations ahead of the July 2 vote.
Approvals were now expected on July 22 rather than May 26 as
previously scheduled, the company said in a statement. Asciano
shareholders were set to vote on the proposal on June 1 but this
could also be deferred.
Asciano in March agreed to be bought by a host of global
investors including Canada's Brookfield Asset Management Inc
BAMa.TO and China Investment Corp GAOXI.UL . = 1.3676 Australian dollars)