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QUBE HOLDINGS LIMITED — M&A Activity 2012
Jul 30, 2012
65652_rns_2012-07-30_3893eefb-d227-4451-aa69-3450f9027e4f.pdf
M&A Activity
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31 July 2012
ASX and Media Announcement
Completion of Prixcar Acquisition
Qube Logistics Holdings Limited (“Qube”) today announced that Prixcar Services Pty Limited (Prixcar) has completed the acquisition of the vehicle distribution business previously owned and operated by Toll Holdings Limited through its Toll Global Logistics business.
Qube provided $20 million in funding to support the transaction and to maintain its indirect shareholding in Prixcar at 25%. Qube funded the investment from available cash.
As previously announced, whilst the transaction is strategically important for Prixcar it is not expected to have a material impact on Qube’s earnings.
Further information regarding the acquisition is contained in Qube’s ASX release of 16 May 2012.
Further enquiries: Media Paul White 0417 224 920
Investors Paul Lewis Company Secretary / Chief Financial Officer +612 9080 1903