Manly Fast Ferry settles divestment to NRMA
Australian law firm Maddocks has advised the founders of the Manly Fast Ferry on their divestment of the company to Australia’s peak road association, NRMA.
Firm: Maddocks (Manly Fast Ferry); Clayton Utz (NRMA)
Deal: The founders and operators of the Manly Fast Ferry have been advised on their divestment of the company to NRMA.
Area: Corporate and commercial
Key players: The legal team advising Manly Fast Ferry was led by Maddocks partner Andrew McNee and senior associate Julian Law, and involved experts from Maddocks’ corporate and commercial; technology, media and telecommunications; banking and finance; and employment, safety and people teams across the firm’s Sydney and Melbourne offices, according to a statement.
The Clayton Utz team advising the NRMA was led by partner Kate Jordan and included senior associate Mariam Azzo and lawyer Qasim Rasool, with specialist support from partners Cilla Robinson and Lina Fischer, senior associate Rebecca Byun and lawyer Katherine Agapitos.
Deal significance: The Manly Fast Ferry operates a fleet of 10 vessels providing fast ferry services between Circular Quay and Manly, as well as regular ferry services to other locations such as Darling Harbour and Watsons Bay, according to Maddocks.
Meanwhile NRMA is described as Australia’s peak road association.
This transaction saw Maddocks advise owners Richard and Will Ford, who will continue to hold an interest in the company and stay in their respective roles as CEO and COO.