The founder and main shareholder of Inditex, Amancio Ortega, has materialized his entry into Australia through his investment firm Pontegadea, which is part of the consortium led by the Macquarie fund. This group has completed the acquisition of the Australian logistics holding Qube, in a transaction valued at 11.7 billion Australian dollars (7.16594 billion euros).
After the closing of the purchase, the consortium in which Pontegadea participates will collaborate with the management team of Qube in the next stage of the company's expansion. According to Macquarie in a statement, the focus will be on continuing to allocate resources to its infrastructure network and on locating new business opportunities in the Asia-Pacific region.
Qube has an extensive portfolio of assets that includes terminals, ports, warehouses, rail and road infrastructures spread across Australia, New Zealand, and Southeast Asia, offering its clients a comprehensive solution for the supply chain.
The investment director of Pontegadea, Patricia Alonso, has highlighted the company's leap into the Australian market. "We are very pleased to expand Pontegadea's global investment portfolio to Australia. This transaction represents another step in Pontegadea's global investment diversification strategy, specifically focused on high-quality assets like Qube," she indicated.
"It also reinforces our commitment to invest in innovative infrastructure backed by strong partners like Macquarie Asset Management, with a proven management track record and with whom we share the same long-term vision on investments. We look forward to bringing our extensive experience to support the ongoing growth and long-term success of Qube," she emphasized.
In the same vein, the CEO of Qube, Paul Digney, has celebrated the operation. "Today marks a new and exciting chapter in the growth and evolution of Qube, and underscores the strength of the business, the solid position we have consolidated, and the quality of our assets, our staff, and our culture," he indicated.
The transaction was announced on February 16, and according to the document detailing the offer, Ortega was involved in the operation through Pontegadea, alongside the Unisuper fund and Macquarie itself. Unisuper already owns 15.07% of Qube's capital.
Macquarie launched its proposal for Qube on November 24, offering 5.20 Australian dollars (3.10 euros) per share, which represented a premium of 27.8% over the last closing price prior to the announcement.
The document stated that Qube could distribute ordinary and extraordinary dividends of up to 0.40 dollars (0.24 euros) in cash, an amount that will be deducted from the price offered by the consortium.
Qube provides integrated logistics services, including storage, port management, road transport, and container manufacturing, in addition to operating in the mining, energy, and construction sectors.