Wallenius Wilhelmsen has sold its Australian terminal for AUD 332.5m ($221m).
The Oslo-listed car carrier owner said on Monday that it will still use the Melbourne International RoRo & Auto Terminal (MIRRAT) following its sale to a subsidiary of Australian logistics giant Qube Holdings.
Chief executive Lasse Kristoffersen said the sale demonstrates the value his company has created in its logistics business.
“As we continue to develop our integrated offering to customers, we believe the terminal’s
independence and open access can be even better developed under a new and independent ownership,” he said.
“The MIRRAT team has done a great job, developing the only dedicated roll-on, roll-off terminal, building a robust and customer-centric operation serving multiple shipping lines.”
Australian-listed Qube Holdings has more than 200 terminal, port and logistics facilities, mostly in Australia and New Zealand.
Wallenius Wilhelmsen’s parent Wilhelmsen has an ownership stake in Qube.
The deal is expected to close in the third quarter of 2024 and the company was advised by Bank of American Securities.
The terminal was Wallenius Wilhlelmsen’s only one in Australia. It owns two in China, three in Europe, three in the US and one in South Korea.
The facility made headlines last year when Wallenius Wilhelmsen’s terminal revenue got a boost from Australia’s biosecurity efforts as the country looked to decontaminate cargoes to keep out the brown marmorated stink bug.
The company described the decontamination efforts as “rigorous”, with the volume of contaminated cargo outweighing terminal capacity.
