Qube Holdings Limited has achieved two significant regulatory milestones in its acquisition by Rubik Australia Pty Limited, with the Foreign Investment Review Board providing approval and the New Zealand Overseas Investment Office granting all required consents. The Bidder received written notice from FIRB that the Commonwealth Government has no objection to the proposed scheme of arrangement, subject to conditions deemed acceptable to the Bidder. Simultaneously, the Bidder obtained all necessary approvals from the NZ OIO under the Overseas Investment Act 2005 and associated regulations. These approvals satisfy critical conditions precedent in the Scheme Implementation Deed, clearing two of the major regulatory hurdles required for the acquisition to proceed.
The removal of these regulatory conditions represents substantial progress toward deal completion. The acquisition was originally announced on 16 February 2026, and the achievement of both FIRB and OIO clearance indicates that foreign investment considerations in both jurisdictions have been addressed to the satisfaction of relevant authorities. Additionally, the announcement confirms that the Australian Competition and Consumer Commission clearance condition has also been satisfied, eliminating another key regulatory condition. Qube has also received all required third party consents and waivers under specified contracts, further reducing remaining conditions precedent to closing. These accumulated approvals suggest the deal is advancing through its final stages with minimal residual regulatory risk.
For shareholders, the achievement of these approvals strengthens confidence in the acquisition’s likelihood of completion. However, one material condition remains: Court approval. The scheme is scheduled for Court hearing at 9.15 am Sydney time on 7 July 2026. This Court approval represents the final major gate before the acquisition concludes. Shareholders should note that while regulatory clearance from FIRB and OIO demonstrates that foreign ownership and investment considerations have been cleared, Court approval focuses on different criteria, including the fairness and proper conduct of the scheme process. The proximity of the Court hearing means the acquisition could move to completion imminently once judicial approval is obtained.
Investors should monitor developments around the Court hearing scheduled for 7 July 2026, as Court approval represents the final material gate for the acquisition. Once granted, the scheme would move into its implementation phase. The removal of regulatory uncertainty removes a key source of deal risk that could have prevented completion, but shareholders should remain cognisant that deal ratification by the Court remains necessary. This announcement has been flagged as price sensitive and material by the Australian Securities Exchange.
View the full ASX announcement (PDF)
About Qube Holdings Limited (ASX: QUB)
Qube Holdings Limited is an Australian-based provider of integrated import and export logistics services operating in Australia, New Zealand, and Southeast Asia. The company operates through two core divisions: its Operating Division, which provides containerised cargo handling, grain trading, road and rail transport, warehousing, and industrial logistics services, and its 50% interest in Patrick Terminals, a leading container terminal operator. Qube offers comprehensive supply chain solutions including port logistics, bulk logistics, and specialized services across major Australian ports.
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