A consortium led by an international asset manager has announced the acquisition of leading port and logistics company Qube Holdings for AU$11.7 billion.
ATN reported the consortium, led by Macquarie Asset Management, has entered a binding agreement to acquire Qube, one of Australia’s largest integrated providers of import-export logistics, operating freight handling, infrastructure, and stevedoring at 29 ports. Qube also has a 50% stake in Patrick Terminals, which operates in Brisbane, Sydney, Melbourne, and Fremantle.
“Since inception, Qube has achieved significant growth and diversification across markets and geographies,” said Qube Managing Director Paul Digney. “I am confident that this transaction will provide the platform for the business to continue that evolution while maintaining our strong track record of enhancing supply chains and delivering outstanding customer service.”
The acquisition is subject to regulatory approvals from the Foreign Investment Review Board and the Australian Competition & Consumer Commission.