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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).
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”.
Value: Undisclosed.
Area: Infrastructure.
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.”
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