Moving Qube to a Hold

The takeover of Asciano has finally been approved but this doesn't mean automatic wins for Qube in the long run.

The Australian Competition and Consumer Commission has said it won’t oppose the acquisition of Asciano by a consortium including Qube, Canadian investor Brookfield Infrastructure Partners and a number of investment funds. The ACCC believes that the transaction won’t lead to a "substantial lessening of competition" in the various port and rail markets affected.

Asciano’s assets will be split between various members of the consortium, with Qube gaining ownership of half of Asciano’s Patrick Container Terminals (‘Patrick’) business in a joint venture with Brookfield Infrastructure and its partners.

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