QUBE Holdings has moved to end dampen speculation it has been made a monster offer by LOGOS Property Group for Moorebank Logistics Park.
A report in The Australian talked of a “knockout” offer for the facility from the Asia-Pacific logistics specialists.
But in a statement to investors, Qube Holdings managing director Maurice James indicated the current situation remained fluid.
“Qube reiterates that the LOGOS Property Group proposal is still at the status of a nonbinding indicative proposal and remains subject to a number of conditions, including due diligence and documentation,” Mr James said.
“The precise details and scope of the monetisation structure, including the level of ownership and assets which would be subject to the monetisation, and the operating structure and alignment arrangements, have yet to be agreed.”
Given the status of the proposal and that a range of options is possible, Mr James said media reporting on the subject “was highly speculative and inaccurate”.
A week ago, Qube issued a market statement saying it was “undertaking a process in relation to a potential monetisation of the Moorebank Logistics Park”.
The MLP monetisation process was said to have received “strong interest” from several parties and a short list of parties was selected to proceed to the second stage of the process.
Following evaluation of non-binding offers, it was determined that the process would be optimised by entering into a period of exclusivity with a preferred partner, that being LOGOS Property Group.
See how Qube fared in the 2019-20 financial year via a report produced for its latest AGM.