Geo Group to sell Lawton Correctional Facility in Oklahoma for $312M

Geo Group (GEO) has entered into a purchase agreement with the Oklahoma Department of Corrections for the sale of the GEO-owned Lawton Correctional Facility located in Lawton, Oklahoma for $312M. The sale of the Facility is expected to close on July 25, subject to the satisfaction of customary closing conditions, and GEO expects to transition Facility operations to the Oklahoma Department of Corrections simultaneously on July 25. GEO expects to use the net proceeds from the sale of the Facility to pay down debt and for general corporate purposes.