(Adds background on project, consortium)
July 5 (Reuters) - Australian logistics provider Qube Holdings (QUB) said on Monday it will sell all its interest in the Moorebank Logistics Park in Sydney for A$1.67 billion ($1.26 billion).
The interests are being sold to a consortium led by Sydney based logistics company LOGOS Property Group. The consortium includes the country's largest superannuation fund, AustralianSuper, among other members.
The Moorebank Logistics Park, located off of Sydney, is expected to be Australia's largest freight infrastructure project, according to its website https://qubemlp.com.au/about, and will connect Port Botany in south-eastern Sydney to rail terminals and warehousing facilities.
Qube would continue to retain ownership of the intermodal rail terminals in the facility after the sale of the interest, the company said.
Upon completion of acquisition, LOGOS will fund the balance of planned development for the assets in Moorebank. The transaction allows Qube to "focus on growing its core logistics business", the company said in a statement.
Qube expects to receive $1.36 billion in gross pre-tax proceeds on completing the transaction. ($1 = 1.3293 Australian dollars)
(Adds background on project, consortium) July 5 (Reuters) -...
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