CK Infrastructure Holdings Limited (SEHK:1038) is understood to have bowed out of the competition for a $3 billion stake in the Pluto Train 2 development in Western Australia. Bids are understood to have landed with owner Woodside Petroleum during the week starting August 30. While Hong Kong-based CKI was expected to be a contender, the understanding is that it did not submit an offer.

Now Brookfield Asset Management Inc. (TSX:BAM.A) and Global Infrastructure Partners L.P. are believed to be in contention to win the Pluto Train 2 race. Both parties are known to have been bidding.