A consortium led by Macquarie Asset Management signed a binding agreement on 16 February to acquire Qube Holdings by scheme of arrangement at A$5.20 cash a share, valuing the ASX-listed ports and logistics group at about A$11.7bn.
Why Macquarie Asset Management-led consortium is buying Qube Holdings Limited
Macquarie said rising trade demand, population growth and a focus on sovereign supply-chain capability made resilient logistics infrastructure increasingly important, and that it would back Qube's management in investing across its 200 sites in Australia, New Zealand and South-East Asia.
Deal terms and financing
Shareholders other than UniSuper receive A$5.20 cash per share, a 28% premium to Qube's close of A$4.07 on 21 November 2025, before the approach. UniSuper transferred its 15.07% direct stake at equivalent value for an interest in the consortium's holding structure. Qube's board unanimously recommended the scheme.
Regulatory approvals and timing
The scheme needed approval from the ACCC, the Foreign Investment Review Board, New Zealand's Overseas Investment Office and Papua New Guinea regulators, plus shareholders and the court. Shareholders voted in favour in June and the NSW Supreme Court approved the scheme in July. Qube said the scheme was implemented on 14 August 2026, and its shares were removed from the ASX on 17 August, The Motley Fool reported.
Market context
Qube is Australia's largest provider of ports and terminal infrastructure, with about 10,000 staff and assets including Moorebank Logistics Park and Patrick Terminals. The deal is among the largest infrastructure take-privates in Australia.
