Sale of Aegis Correctional Partnership to AMP completed
Commonwealth Bank of Australia and Bendigo and Adelaide Bank Limited have been advised on the sale of their equity interests in Aegis Correctional Partnership Pty Ltd to AMP Capital.
Firm: Herbert Smith Freehills (Commonwealth Bank of Australia and Bendigo and Adelaide Bank Limited).
Deal: AMP Capital has purchased the equity interests in Aegis (which operates and maintains the Hopkins Correctional Centre) from CBA and Bendigo and Adelaide Bank.
The transaction, the firm said in a statement, “involved the recapitalisation of the project through debt and equity, and the re-implementation of the original PPP structure through the reinstatement of availability payments for the remainder of the concession”, and it “allows for commencement of a program which will deliver a further expansion of the facility in 2021”.
Key players: The HSF team was led by partner Erin Wyeth and executive counsel Neena Aynsley, who were supported by solicitors Teresa Sun and Ben Faulkner.
Deal significance: Speaking about the sale, Ms Wyeth commented: “Having advised on the Hopkins Correctional Centre since 2010, we are delighted to have achieved completion on this complex and strategic transaction.”