Qube Finalises AU$332.5 million Acquisition of MIRRAT with ACCC Approval

Qube Holdings Limited (ASX: QUB) has obtained clearance from the Australian Competition and Consumer Commission (ACCC) for a legally enforceable undertaking by section 87B of the Competition and Consumer Act 2010. This approval represents a key regulatory milestone, confirming Qube’s alignment with Australia’s competition laws and its ongoing commitment to responsible and transparent business practices. The undertaking ensures that Qube’s proposed activities meet the ACCC’s requirements for maintaining fair market competition, allowing the company to move forward confidently with its strategic initiatives. This approval enables its wholly owned subsidiary, Australian Amalgamated Terminals Pty Ltd (AAT), to move forward with the acquisition and operation of the Melbourne International RoRo & Automotive Terminal.

Valued at approximately AU$ 332.5 million (excluding additional charges), the acquisition is set to be finalized on 01 May 2025 and will be financed through Qube’s existing undrawn debt capacity. The transaction is expected to positively impact earnings per share (EPS) in FY25 and align with Qube’s medium-term Return on Average Capital Employed (ROACE) objectives. Managing Director Paul Digney appreciated the ACCC’s collaboration and stated that the updated undertaking supports current market dynamics and AAT’s operational advancements.

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