Glencore's NSW rail business could interest Carlyle
The Carlyle Group is thought to be interested in Glencore’s [LON: GLEN] NSW coal haulage business, The Australian's Dataroom reported.
According to the report, which did not cite sources, Carlyle has been enhancing its infrastructure expertise to pursue infrastructure related deals. The item noted executives from the infrastructure group Hastings Funds Management recently migrated to Carlyle.
The report said Carlyle may also be interested in a stake in Genesse & Wyoming Australia. Carlyle has previously invested with Genesee’s US parent, Genesee & Wyoming [NYSE: GWR] to buy Rail America for USD 800m in 2012.
Genesee is said to be eager to buy assets in Australia but requires financial assistance to do so. The group is taking advise from Bank of America Merrill Lynch, the paper said. Buyout groups and Canadian pension funds are thought to be possible partners.
Genesee is believed to be interested in Glencore’s NSW assets, as are Asciano’s [ASX: AIO] Pacific National, Aurizon [ASX: AZJ], and Macquarie Infrastructure and Real Assets.
Royal Bank of Canada is advising on the Glencore rail asset sale.