AusRAIL, Market Sectors

Toll has appetite for $600m Asian buy

<p>Toll Holdings is eyeing an Asian acquisition worth up to $600m.</p> <p>The company is planning to announce an important acquisition in Asia in the next few months, Toll managing director Paul Little told an American Chamber of Commerce meeting in Melbourne on Friday (May 13), the <em>Sydney Morning Herald</em> reported.</p> <p>Mr Little said Toll wanted an acquisition that had partnerships, particularly in India or China, where it is difficult to compete directly with local businesses.</p> <p>"We have an appetite to acquire an Asian business that has a footprint around Asia, that is not limited to one country," he said.</p> <p>"We have a couple of options we are circling now that are significant."</p> <p>The company could spend $500m-$600m without going to the market for funds.</p> <p>* Meanwhile in Townsville, Toll opened its $20m rail terminal that will help its 50%-owned rail business, Pacific National, compete with QR on narrow gauge box freight services," he said.</p> <br />