Pan-Asian logistics group Logos has entered an exclusive due diligence agreement for a stake in Australia’s largest fright infrastructure project from Qube Holdings.

Qube is trying to sell a stake and/or find a joint venture partner for the Moorebank Logistics Park (MLP), which includes Qube’s intermodal freight facility at Moorebank, in Sydney’s southwest.

MLB, valued at more than A$2bn (€1.2bn), attracted several potential bids, including Charter Hall, ESR, Dexus and, reportedly, Blackstone.

Qube said it had entered a period of exclusivity with Logos in relation to the MLP sale.

The vendor said following evaluation of non-binding indicative offers, it had been determined that the process would be optimised by entering into a period of exclusivity with a preferred partner, reflecting the complex nature of the MLP.

Qube would decide whether to proceed with a transaction towards the end of calendar 2020.

“It remains subject to a number of conditions, including agreement on the precise details and scope of the monetisation structure, completion of due diligence, and documentation.”

To read the digital edition of the latest IPE Real Assets magazine click here.