A logistics acquisition worth seven billion euros is taking shape in Australia. Qube Holdings, which operates rail and port infrastructure across the country, announced in November 2025 that it had received a non-binding takeover proposal from the fund Macquarie Asset Management valued at 11.6 billion Australian dollars. The company added that it has granted Macquarie an exclusive due diligence period until 1 February 2025, stressing that the board will recommend the deal only if a binding offer at the same price is submitted.
Macquarie Asset Management’s interest fits into a broader logistics investment strategy. According to internal figures, the fund already manages almost 960 billion Australian dollars (around 537 billion euros) through public and private infrastructure holdings. Qube is a key component of Australia’s logistics network, with operations spanning container terminals, automotive and grain handling, rail and road services, and port activities that support the movement of wheat, cottonseed and imports from Asia. Macquarie’s global portfolio already includes assets such as container terminals in the United States and road infrastructure in South Korea, signalling a widening presence in intermodal freight transport.
Qube Holdings is one of Australia’s largest integrated logistics operators, with activities distributed nationwide and operational footprints in New Zealand and Southeast Asia. Its structure combines third-party logistics, port infrastructure and services that include container transfers to and from major Australian ports, management of intermodal terminals and container fleets, as well as customs, quarantine, storage and international forwarding functions. These are complemented by bulk and grain handling operations and industrial services for heavy sectors and the renewable energy supply chain.
The intermodal portfolio includes a 50 per cent stake in Patrick, one of the country’s leading container terminal operators, and has expanded through terminals such as Moorebank and Minto in the Sydney area, the Four Grain Terminal at Port Kembla, the TQ Bulk Liquids Terminal and the Newcastle Agri Terminal. Recent acquisitions of Kalari Proprietary Limited, Pinnacle, Stevenson Logistics in North Fremantle and the Agri Rail Terminal in Narrabri have further strengthened Qube’s ability to serve specific segments of the rail supply chain and agricultural freight flows.
Its national footprint covers more than two hundred sites and includes activities in about forty Australian ports through subsidiaries or associate companies such as P&O Automotive, General Stevedoring, Northern Stevedoring Services, Australian Amalgamated Terminals, Prixcar and the joint venture with Wilhelmsen Ships Service. This network enables the Group to offer complex logistics solutions for the automotive, grain, bulk and project cargo sectors, integrating road, rail and maritime services.
