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Article: Corrections Corporation of America Announces Sale of Pamlico Correctional Facility in North Carolina.
- Article from:
- Business Wire
- Article date:
- June 29, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NASHVILLE, Tenn.--(BUSINESS WIRE)
June 29, 2001 - Corrections Corporation of America (NYSE: CXW), the world's leading private corrections management company, today announced it has sold its Pamlico Correctional Facility in Bayboro, North Carolina for approximately $24.1 million on June 28, 2001. Prior to the sale, CCA leased the facility to the State of North Carolina under the terms of a long-term, triple-net lease. The North Carolina Department of Corrections operates the facility.
The sale of Pamlico is another positive step in our objective toward selling non-strategic assets and paying down debt. We believe that utilizing ...