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Ausdoc deal attracts scrutiny

Friday 21st June 2002

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The lengthy saga of the future of Freightways Express owner Ausdoc has been resolved with its sale to ABN Amro Capital, the private equity arm of Dutch-based investment bank ABN Amro.

Ausdoc shareholders will receive $A2.15 cash, valuing the company at $A187 million ($216 million). Ausdoc's attempts to sell separately Freightways, the New Zealand trucking business, fell through last month. Australia's Takeover Panel is examining the controversial "break fees" of up to $A3.5 million payable to ABN if the deal doesn't go through.

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