THE ACACIA Ridge Terminal is now the domain of rail operator Pacific National.

Aurizon sold the terminal, located about 16 kilometres south of Brisbane, for $205 million after all conditions were satisfied and outstanding funds were transferred.

Aurizon had already received a non-refundable payment of $35 million, and the balance of $170 million was received on Friday.

Aurizon said tax payable on the sale is an estimated $40 million, resulting in net proceeds of $130 million.

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The Foreign Investment Review Board approved the contract in February this year.

In December, the High Court rejected an application by the Australian Competition and Consumer Commission that sought leave to appeal a decision by the Full Federal Court allowing the sale to proceed.

The terminal sale completes Aurizon’s three-stage exit from its loss-making intermodal business, which included closing the interstate intermodal business outside Queensland, completed in December 2017, sale of the Queensland intermodal business to Linfox on 31 January 2019, and the sale of the Acacia Ridge Terminal.

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