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Allens advises The GEO Group on Ravenhall equity sale
Allens has advised US-based private correctional services company The GEO Group on the sale of its equity interest in the Victoria-based Ravenhall Correctional Centre Project to Aberdeen Standard Global Infrastructure GP III LP.
Keonia Swift
Firm: Allens (The GEO Group)
Value: Undisclosed
Area: Corporate
Key players: The Allens team comprised partner Michelle Bennett, senior associate Angela Li and lawyer Jessica Baker, with assistance (projects) from partner David Donnelly, senior associate Ben van Weel, and associate Madeleine George.
Deal significance: The GEO Group sought the counsel of Allens regarding the sale of an equity interest in the Ravenhall Correctional Centre Project in Victoria, Australia, to Aberdeen Standard Global Infrastructure GP III LP.
“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.
Commenting further, Allens partner and practice group leader of projects and development David Donnelly said: “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.”
The equity sale follows the successful public-private partnership (PPP) development of the Ravenhall Correctional Centre, which opened in late 2017.
