Mergers & Acquisitions ·
Sells Adelanto Complex for $950M and boosts share repurchase authorization to $1.25B
GEOGeo Group Inc
The GEO Group sold its three-facility Adelanto Complex in California, totaling 2,644 beds, to the U.S. Department of Homeland Security for an aggregate price of $950 million. The transaction closed concurrently with the agreement on October 2, 2026, yielding approximately $705 million in net proceeds after taxes and fees. GEO will continue managing the facilities under a long-term support services contract with ICE through December 19, 2034. Concurrently, the Board increased the share repurchase authorization by $750 million to $1.25 billion, effective through December 31, 2029. Proceeds will be used to reduce debt and buy back stock. The company operates in the private prison and government services industry.