Valero Renewable Fuels has completed the acquisition of three ethanol plants from Green Plains for $319m. The transaction includes ethanol plants located in Bluffton, Ind., Lakota, Iowa, and Riga, Mich. which represented approximately 20 percent of the company’s reported ethanol production capacity.
In conjunction with this transaction, Green Plains Partners has announced that it has completed the sale of the storage assets and assignment of the rail transportation assets associated with the three ethanol plants to Green Plains Inc.
Green Plains Partners will receive as additional consideration, approximately $2.6m in cash related to the present value gain on railcars transferred, subject to certain post-closing adjustments.
For more information visit www.gpreinc.com
19th November 2018