Seeking Alpha

BioFuel Energy to acquire JBGL in $275M deal, shares +23% premarket

  • BioFuel Energy (BIOF) +23.1% premarket after agreeing to acquire JBGL Builder Finance from affiliates of Greenlight Capital and James Brickman for $275M in cash and stock.
  • The cash portion of the deal will be funded from the proceeds of a $70M rights offering and ~$150M in debt financing provided to BIOF by Greenlight.
  • JBGL is a series of real estate entities involved in the purchase and development of land for residential purposes, construction lending and home building operations.
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Comments (1)
  • Michael Bryant
    , contributor
    Comments (5822) | Send Message
     
    (BIOF)'s market cap is only $41B. So it is going to grow its size 4 times? This sounds great news, but where is all the money for the buyout coming from?
    11 Jun 2014, 04:07 PM Reply Like
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