Concerns over Aurizon intermodal sale of Pacific National

Company News

by Rachael Jones

Aurizon's (ASX:AZJ) plans to sell its intermodal business to rival Pacific National have been thrown into doubt.

The competition watchdog the ACCC warn the sale would hurt the freight industry market.

They are worried about the reduction of intermodal rail linehaul providers from one to two in Queensland.

The rail operator wanted to sell its business, which transports containers, to Pacific National and trucking group Linfox as well as selling the Acacia Ridge interstate terminal south of Brisbane.

The sales were expected to raise about $220 million.

Shares in Aurizon (ASX:AZJ) are trading 0.11 per cent higher to $4.41
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.