Asciano advises market of ACFS proceedings

Company News

 
Asciano Limited (ASX:AIO) has announced it has been served with a Supreme Court summons in relation to proceedings regarding its interest in ACFS Logistics Pty Ltd.
 
Asciano holds a 50 percent interest in the joint venture with ACFS Logistics, with a book value of $36.2 million as at 30 April 2016.
 
The plaintiffs are seeking orders clarifying the parties’ rights under the joint venture agreement. 

Asciano has indicated it intends to vigorously defend the proceedings.  

Asciano reported a net profit of $200.6 million at 31 December 2015.