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Firms lock in prison contract
Two firms played a part in extending the contract of the GEO Group at a medium-security prison in Victoria.
Felicity Nelson
Firms: Allens (The GEO Group Australia); Clayton Utz (Victorian Government)
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Deal: The GEO Group renegotiated and extended its operating contract at the Fulham Correctional Centre.
Value: $593 million
Area: Government
Key players: The Allens team was led by partner David Donnelly (pictured), Paul Telford (senior associate) and Siu-Mei Lim (lawyer).
Deal significance:
The new contract represents a $1.45 billion nominal investment over the life of the contract by the State of Victoria ($593 million in net present terms).
It commences 1 July 2016 and run for up to 19 years.
The Fulham Correctional Centre has a contract capacity of 947 beds with a further increase in capacity under consideration.
“Allens has had a long and distinguished track record of working on the most significant major projects around the region, including on all of the recent major, correctional projects across Australia and New Zealand,” Mr Donnelly said.
