Qube Holdings (ASX:QUB) has entered a formal scheme implementation deed to be acquired by Macquarie Asset Management in a deal valued at $11.7 billion.
The transaction, which follows months of due diligence after an initial $5.20 per-share cash bid, marks MAM’s largest-ever domestic infrastructure investment, surpassing its 2017 acquisition of Endeavour Energy.
To finance the massive buyout, Macquarie has assembled a high-powered consortium including Brighter Super, Mercer, and Pontegadea—the family office of Zara founder Amancio Ortega.
UniSuper, Qube’s largest existing shareholder with a 15.07% stake, has also pledged its support and will roll its interest into the new unlisted entity.
While the deal signals a significant shift of public assets into private hands—echoing the recent privatisation of Sydney Airport—it remains subject to final shareholder and regulatory approvals.