Qube Holdings Ltd. ( (AU:QUB) ) has issued an update.
The Australian Competition and Consumer Commission (ACCC) has decided not to oppose Qube Holdings Ltd’s proposed acquisition of Melbourne International RoRo & Auto Terminal Pty Ltd (MIRRAT), contingent upon a court-enforceable undertaking to address competition concerns. This undertaking ensures Qube and its subsidiaries will not discriminate against downstream rivals, imposes obligations on operations at various ports, and includes measures for dispute resolution and compliance oversight. The acquisition allows Qube to control automotive roll-on roll-off trade through the Port of Melbourne, potentially impacting competition in downstream services. Despite concerns about Qube’s increased ability to discriminate against rivals, the ACCC accepted the undertaking due to existing similar agreements and support from terminal users.
More about Qube Holdings Ltd.
Qube Holdings Ltd is Australia’s largest provider of import and export logistics services, specializing in port-related activities such as terminal management, stevedoring, processing, pre-delivery inspection (PDI), and delivery. The company operates automotive cargo terminals at the Port of Brisbane and Port Kembla, as well as a general cargo terminal at Appleton Dock at the Port of Melbourne.
YTD Price Performance: -15.25%
Average Trading Volume: 315
Technical Sentiment Signal: Hold
Current Market Cap: €3.6B
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