Australia watchdog to probe Qube takeover of Newcastle grain terminal

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Australia's competition regulator said on Thursday it would investigate potential issues arising from logistics firm Qube Holdings' recent acquisition of a bulk grain terminal at the Port of Newcastle in New South Wales.Qube on Sept. 8 said it would buy the Newcastle Agri Terminal for AUS$90 million (US$6

Australia's competition regulator said on Thursday it would investigate potential issues arising from logistics firm Qube Holdings' recent acquisition of a bulk grain terminal at the Port of Newcastle in New South Wales.

The Australian Competition and Consumer Commission said on Thursday that Qube did not provide enough time to review the deal as the company completed the transaction within weeks of announcing it.

 

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