Perth, 13 January 2017: Clayton Utz is advising Hong Kong Stock Exchange and ASX-listed global resources company MMG Limited on the sale of its Golden Grove mine located in Western Australia to EMR Capital.
On 30 December 2016, MMG entered into a conditional share sale agreement with EMR Golden Grove Holdings Pty Ltd, an entity owned and managed by EMR Capital, for the sale of MMG Golden Grove Pty Ltd for US$210 million.
Subject to MMG board and other approvals, the sale is expected to be completed in early 2017.
Clayton Utz corporate partner Brett Cohen is leading the team on the transaction, which includes senior associate Armin Fazely and lawyers Kaley Ohariw and Milana Sarenac. The core transaction team has been supported by specialist teams from Clayton Utz including tax, environment, native title and employment.
Commenting on the transaction, Brett said: "We are pleased to have been given the opportunity to provide strategic advice and support to this longstanding client of Clayton Utz, working alongside MMG and its financial adviser Goldman Sachs to execute the sale agreement for this transaction in a compressed timeframe over the 2016 Christmas holiday break."