Qube buys 19.99% stake in Asciano

Company News


Qube Holdings Limited (ASX:QUB) says it has bought into a 19.99 per cent stake in Asciano. 
 
The stake is part of a push to gain the “Patricks business’’ or the first class Australian terminal business owned by Asciano. Qube says it has no interest in acquiring any Asciano assets past the Patrick Business. 
 
Qube hopes to block the Brookfield Infrastructure’s $8.9 billion takeover bid for the ports and rail group or at least gain control of the ports part of the business itself. 
 
Qube reported a net profit of $95.88 million for the 2015 financial year.