07:25 AM EDT, 06/05/2025 (MT Newswires) -- GEO Group Inc ( GEO ) said Thursday that it has entered an agreement with the Oklahoma Department of Corrections to sell its Lawton Correctional Facility in Oklahoma for $312 million.

The company said it plans to use the net proceeds to pay down debt and for general corporate purposes. The sale is expected to close on July 25, with the state Corrections department taking over operations on the same day.