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Abengoa sells five U.S. ethanol plants for $357M; Green Plains buys three

Aug. 23, 2016 3:19 PM ETAbengoa, S.A. (ABGOF) StockBy: Carl Surran, SA News Editor
  • Spanish renewable energy firm Abengoa (ABGB) is selling five of its Midwestern U.S. ethanol plants for $357M, with Green Plains (GPRE +6.2%) agreeing to acquire three of them for $237M.
  • GPRE, which operates 14 plants and has an ethanol marketing unit, is paying $200M for Abengoa plants in Mount Vernon, Ind., and Madison, Ill., and outbid another company for the York, Neb., plant with a $37.4M bid at bankruptcy auction; the three plants have a combined annual production capacity of 236M gal/year.
  • ABGB sought bankruptcy court approval in June to sell the plants as part of an attempt to divest non-core assets.

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