QUB 0.50% $3.98 qube holdings limited

March 15 (Reuters) - Qube Holdings Ltd (QUB) : Entitlement...

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    March 15 (Reuters) - Qube Holdings Ltd (QUB) :

    • Entitlement offer and placement (QUB)
    • Will acquire the Patrick Container Terminals Business for $2.92 billion in a 50/50 joint venture acquisition
    • Qube to undertake an $800 million equity raising to support funding for its acquisition
    • Says "acquisition expected to be transformational for Qube with significant benefits anticipated"
    • Qube also has the right to subsequently acquire asciano's 50% shareholding interest in aat from Brookfield infrastructure for $150 million
    • Qube expects to be able to generate total synergies consistent with the range previously identified, including approximately $25-$40 million within the jv
    • Brookfield Infrastructure will acquire its 50% interest together with its co-investors Buckland Investment Pte Ltd ,British Columbia Investment Management Corporation & Qatar Investment Authority
    • $494 million fully underwritten 1 for 4.4 accelerated non-renounceable entitlement offer at $2.05 per share"
    • as part of transaction, Qube will exit its existing Asciano shareholding at offer price, realising gross proceeds of around $569 million and cash profit of around $35 million
    • $306 million placement to cppib to be undertaken at a price of $2.14 per share"
    • Says proceeds from transaction will be applied towards reducing qube's existing debt
    • Qube expects the transaction to achieve high single digit EPS accretion on a pro forma basis"
                        
 
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Last
$3.98
Change
-0.020(0.50%)
Mkt cap ! $6.843B
Open High Low Value Volume
$4.02 $4.02 $3.98 $11.15M 2.793M

Buyers (Bids)

No. Vol. Price($)
6 93575 $3.97
 

Sellers (Offers)

Price($) Vol. No.
$3.99 153143 7
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