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Aurizon has already received a non-refundable payment of $35 million. The balance of $170 million was received today by Aurizon. Tax payable on the sale is an estimated $40 million, resulting in net remaining proceeds of approximately $130 million.
The contract became unconditional following approval of the transaction by the Foreign Investment Review Board in February 2021.
In December 2020, the High Court rejected an application by the Australian Competition and Consumer Commission that sought leave to appeal a decision by the Full Federal Court allowing the sale to proceed.
The Terminal sale completes Aurizon’s three-stage exit from its loss-making Intermodal business, comprising:
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