Paez, Director, Corporate Relations of The GEO
El gobierno de Mexico confia en que Geo
Now that it's hit a groove in El Paso, GEO
is scouting for new sites.
As previously announced by GEO
, a special committee of the Board was formed consisting of all the independent directors of GEO
(the "Independent Committee"), and the Independent Committee approved the sale of the GEO
Care Business to members of GEO
Care's management teams (the "MBO Group") for a purchase price of $36 million, inclusive of normalized working capital in the GEO
Care Business (the "GEO
shareholders who made valid elections to receive cash were placed in a lottery to receive all cash.
's Chairman, CEO and Founder, said, "Based on our extensive work over the past few months, our Board and our management team strongly believe that positioning GEO
for a REIT conversion will maximize our company's ability to create shareholder value given the nature of our assets, help lower our cost of capital, draw a larger base of potential shareholders, provide greater flexibility to pursue growth opportunities, and create a more efficient operating structure.
Paez, Director, Corporate Relations, The GEO
As previously announced, GEO
may also use proceeds from the offering, along with existing cash, to finance the planned expansion of GEO
's Val Verde Correctional Facility in Del Rio, Texas.
We continue to have a very optimistic outlook on our core organic growth opportunities as well as GEO
Care's future business development prospects.
Transaction Saves GEO
$155 Million In Future Net Cash Payments And Will Be Accretive After 2012
and its advisors complete the comprehensive analysis being performed regarding a potential REIT conversion, GEO
's board of directors will be adequately informed and in a position to determine whether to move forward with a REIT conversion.
Zoley, Chairman and Chief Executive Officer of GEO
, said: "We believe that the initiation of our dividend policy with our first quarterly dividend of $0.