Rail company Aurizon (ASX:AZJ) has sold its Queensland Intermodal business to Linfox for $7.3 million.
The sale will include freight forwarding, rail wagons, the transfer of customer contracts and employment of the majority of Aurizon’s QIB employees, as well as access to terminals.
Separately, Aurizon and Pacific National will continue to seek clearance of the $205 million sale of the Acacia Ridge terminal through the Federal Court proceedings scheduled to be heard on 19 November 2018.
This acquisition will see Linfox, one of Australia’s leading logistics providers, make a large-scale entry to the Queensland intermodal freight market.
Approximately 190 Aurizon employees currently engaged in the provision of terminal operations and pick-up and delivery services will transfer to Linfox.
Shares in Aurizon (ASX:AZJ) are 0.87 per cent lower at $3.98,