MMA Offshore to sell Dampier and Broome Supply Bases

Company News

by Jessica Amir

MMA Offshore Limited (ASX:MRM) has announced it will sell its Dampier and Broome Base Supply assets to Toll Group.

The marine service provider will realise $44.1 million from the sale of the Dampier Supply Base, which operates in the North West Shelf of Western Australia.

The company will also realise $8.7 million from its 50% interest in the Toll Mermaid Logistics Broome base.

The transactions will reduce MMA Offshore’s debt over the course of the 2017 financial year. The sales are also subject to regulatory approvals.

MMA Limited (ASX:MRM) reported a net loss of $45.4 million for the half year ending 31 December 2016.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.