THE BOARD of Qube has signed off on the $11.7 billion sale to Macquarie Asset Management and its investors, including UniSuper.
Shareholders were recommended by the board unanimously to vote in favour of the proposed Scheme of Arrangement.
Macquarie Asset Management (MAM), together with its managed funds and co-investors, have signed a Scheme Implementation Deed (SID) to acquire all shares by way of scheme of arrangement (Scheme).
Under the Scheme:
The consortium comprises MAM managed funds and co-investors including UniSuper and Pontegadea.
The cash consideration of $5.20 per share represents a 28% premium to the last closing share price of Qube of $4.07 per share on 21 November 2025. This values Qube at approximately $11.7 billion.
Qube provides Australian port and terminal infrastructure with assets supported by a 10,000-strong workforce.
Macquarie Asset Management Asia Pacific co-head of infrastructure Ani Satchcroft said population growth, increasing demand for goods and services, and strengthening sovereign capabilities are driving the importance of robust and resilient supply chains, in Australia and across the Asia Pacific region.
“Macquarie Asset Management has extensive experience in developing supply chain infrastructure, security and resilience," she said.
“We look forward to partnering with our co-investors and working with Qube’s world class management team, as the company enters its next phase.
“We believe our proposal offers compelling value for Qube shareholders and we are pleased to have received the board’s unanimous recommendation that investors vote in favour of the Scheme.”
Together with its co-investors, MAM will support Qube’s management team to drive further growth with a focus on investment across Qube’s 200 sites in Australia, New Zealand and South-East Asia.
Also on the horizon are new opportunities across the APAC region.
Qube managing director Paul Digney said he was confident in the transaction.
“MAM’s offer underscores the value that has been created through our strategy for growth, the quality of our business, leadership team and people and the strength of our safety culture," he said.
“Since inception, Qube has achieved significant growth and diversification across markets and geographies."
UniSuper chief investment officer John Pearce said: "Investing in Qube is ultimately a bet on Australia so we are delighted to continue as a significant shareholder."