Allens has advised US-based private correctional services company The GEO Group, Inc. on the sale of its equity interest in the Victorian-based Ravenhall Correctional Centre Project to Aberdeen Standard Global Infrastructure GP III LP.
The equity sale follows the successful development of the Ravenhall Correctional Centre by way of a public-private partnership (PPP), with the centre opening in late 2017.
'We are pleased to have worked closely with The GEO Group on the successful sale of its equity interest in the Ravenhall Correctional Centre Project. It is a great outcome to complete the deal and have the parties establish a collaborative relationship as GEO continues its role as the operator of the asset,' said Partner Michelle Bennett.
'This is a great milestone. We're very grateful to have supported The GEO Group on this asset across all stages of the lifecycle over the last decade – from inception, on the successful bid, through construction, refinancing, operations and now on the equity sale. We look forward to continuing to work with GEO in its role as operator of the prison,' said Partner David Donnelly.
The transaction completed in September 2022.
