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Allens locks in first major PPP in NZ
A number of law firms have helped to secure the contract to build, operate and maintain a 960-bed prison in Wiri, south Auckland.
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Firms: Allens (financiers to the SecureFuture consortium on the Wiri Men's Prison Project)
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Deal: New Zealand's first major PPP to build, operate and maintain a 960-bed prison in Wiri, south Auckland
Value: $NZ840 million contract
Key players: Partners James Darcy and Ren Niemann led the Allens team. Law firms Russell McVeigh, Bell Gully, Mayne Wetherell, Simpson Grierson, Kensington Swan and Minter Ellison Rudd Watts also advised on this deal
Deal significance: The SecureFuture consortium (comprising Serco Australia, Fletcher Construction, Spotless Services NZ, Accident Compensation Corporation, John Laing Investments and InfraRed, and advised by Macquarie Capital) has reached financial close on the contract to build, operate and maintain the prison.
“This is a strategically important project for the development of the NZ PPP market,” said Darcy, adding that the team hopes the NZ market continues to prosper as the Australian PPP market has.
