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Five firms get sales on track
Minter Ellison, Watson Mangioni, Gilbert + Tobin, Thomsons Lawyers and Clayton Utz have all acted on the sale of Independent Transport Group (ITG) and ITG's Minto and Harefield rail sites to Qube Logistics Holdings Limited.
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Minter Ellison, Watson Mangioni, Gilbert + Tobin, Thomsons Lawyers and Clayton Utz have all acted on the sale of Independent Transport Group (ITG) and ITG's Minto and Harefield rail sites to Qube Logistics Holdings Limited.
Deal: Independent Transport Group (ITG) and ITG's Minto and Harefield rail sites have been sold to Qube Logistics Holdings Limited
Area: Transport & logistics
Value: $100 million
Key players: Minters’ team included finance and projects partner Keith Rovers (pictured), Sydney tax partners Mark Standen, David Pratley and Nathan Deveson. James Beaton, David Crane and Siew Tong also advised on behalf of Minters. Chris Clarke, Ebru Davidson, Peter Velez and John Murray acted for Watson Mangioni. Luke Woodward and Rebecca Dollisson led the G + T team. Kathy Santikos and Sahreen Quazi led the Clutz team. Rachel Trindade was the competition law adviser to ITG
Deal significance: ITG, which is the trading name of Macarthur Intermodal Shipping Terminal Pty Limited, owns Independent Railways of Australia and Independent Railroad of Australia and operates an intermodal shipping terminal at Minto, New South Wales with associated road and rail warehousing and freighting facilities.
As part of the transaction, Qube acquired ITG’s Minto site from which the company runs its rail terminal and warehousing operations, as well as another site at Harefield, New South Wales.
The acquisition will expand Qube’s rail fleet to approximately 80 locomotives and 800 wagons.
ITG currently has existing contracts in place for the movement of grains by rail from regional New South Wales to the Macarthur Intermodal Shipping Terminal for export through Port Botany, including with Viterra, the owner of the site adjoining the Minto terminal for which it provided regional haulage and terminal services. “The transaction was the culmination of lengthy negotiations initially with Viterra (who held certain rights) and subsequently with Qube as the preferred bidder following a competitive bid process run by KSA Capital Advisors on behalf of ITG. The transaction involved the consideration and management of a number of interesting dynamics and technical, legal and commercial issues,” said Rovers.
