GEO Group Sells Adelanto Facilities for $950M, Boosts Buyback to $1.25B
The GEO Group sold three Adelanto, CA ICE facilities for $950 million and raised its share repurchase authorization by $750 million to $1.25 billion. GEO expects to continue services under its ICE contract through December 19, 2034.
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GEO - The GEO Group Sells the Adelanto, California ICE Processing Center Complex Comprised of Three Facilities Totaling 2,644 Beds for $950 Million and Increases Share Repurchase Authorization to $1.25 Billion
The GEO Group sold three Adelanto, California ICE facilities for $950M and expects about $705M in net proceeds. 25B. GEO said it expects to continue providing services under its ICE contract, which is effective through Dec. 19, 2034.