Australia's biggest ports and rail operator Asciano Group, the target of a US$2.7 billion takeover bid, yesterday said that it may sell some of its assets as it reported a net loss for the year.
The company, which this week rejected a takeover bid from a US-based private equity firm saying that it undervalued the group, delivered a net loss of A$182.1 million (S$230.9 million) for the year to June 30, 2008.
Asciano, which was formed in June 2007 in a demerger from parent transport and logistics group Toll Holdings Ltd, said that its operating business units performed well overall during the year.
Earnings before interest, tax, depreciation and amortisation (Ebitda), before significant items, increased by 10.1 per cent to A$677.7 million in the period from June 15, 2007 to June 30, 2008, it said.
The company, which this week rejected a takeover bid from a US-based private equity firm saying that it undervalued the group, delivered a net loss of A$182.1 million (S$230.9 million) for the year to June 30, 2008.
Asciano, which was formed in June 2007 in a demerger from parent transport and logistics group Toll Holdings Ltd, said that its operating business units performed well overall during the year.
Earnings before interest, tax, depreciation and amortisation (Ebitda), before significant items, increased by 10.1 per cent to A$677.7 million in the period from June 15, 2007 to June 30, 2008, it said.