CoreCivic Sells Two Additional Detention Facilities
CoreCivic sold the Prairie Correctional Facility and Midwest Regional Reception Center to the U.S. Department of Homeland Security for an aggregate gross sales price of $734.0 million. After accounting for taxes and transaction costs, the company expects net proceeds of approximately $522.5 million, which it intends to use for debt reduction and share repurchases while continuing to operate the facilities under existing ICE management contracts.
Key figures
- Deal Value Usd
- 734000000
- Net proceeds
- 522500000
- Taxes and costs
- 182200000
- Remaining owned beds
- 67000
- Remaining managed beds
- 13000
AI analysis
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