Ashurst has advised MMA Offshore Limited and relevant seller subsidiaries ("MMA") on the sale of its Dampier Supply Base to Toll Transport Pty Limited (part of the Toll group). Toll will pay MMA A$44.1 million in cash on completion, subject to certain customary adjustments.

Following the sale, MMA will continue to operate the Dampier Slipway facility under a licence agreement for at least 12 months, to support its vessel operations.  MMA will also continue to utilise the Dampier Supply Base to support vessel operations under a service agreement with Toll.
 
Completion is subject to certain conditions precedent, including FIRB and ACCC approval, receipt of certain key counterparty consents, and there being no prescribed material adverse change events. The sale forms part of MMA's ongoing capital management strategy to rationalise non-core assets and reduce debt, and allows MMA to focus on larger, more sophisticated vessels.
 
The Ashurst team was led by partner Antonella Pacitti, who was assisted by lawyers Richard Tan, Rowan Krasnoff and Jacob Carmody and other specialists across the firm.