Serco exits equity stake in company that holds Wiri prison contract, remains as operator

Thu, 16 Jun 2016

By Jonathan Underhill June 16 (BusinessDesk) - Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. Serco was one of the original shareholders in SecureFuture Wiri, which won the contract for the Auckland South Corrections Facility, a high-security men's prison at Wiri, in 2012 via a public-private partnership (PPP) arrangement. This month, Serco sold its 10 percent stake in SecureFuture to InfraRed Infrastruct...

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