Ausdoc deal attracts scrutiny

Friday 21st June 2002

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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