Qube gains 100% ownership of Moorebank project

Company News

by David Chau

Qube Holdings Ltd (ASX:QUB) has signed a deal to acquire Aurizon Holdings’ 33% equity in the Moorebank Intermodal Terminal, located in south-west Sydney.

Qube will pay Aurzon $98.9 million to buy its stake, will then have complete ownership of the Moorebank project.

However, this deal is conditional upon the financial closure of the Moorebank Intermodal Company Ltd, which is expected to occur in August.

Furthermore, Qube says it has completed its $306 million placement to the Canada Pension Plan Investment Board, which equates to around 9.9% of Qube’s issued capital.

Qube Holdings recorded a net profit of $55.7 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.