Green Plains completes Abengoa ethanol plant acquisition

Green Plains Inc., Omaha, Nebraska, has announced it completed the previously announced acquisition of three ethanol plants located in Madison, Illinois, Mount Vernon, Indiana and York, Nebraska, for approximately $237 million in cash plus certain working capital adjustments from Abengoa Bioenergy, St. Louis. The company immediately sold the ethanol storage assets to Green Plains Partners LP for $90 million. All three plants are currently operational and will add 236 million gallons per year of ethanol production capacity.

“In the past 12 months, we have expanded our ethanol production capacity by approximately 50 percent. Adding the Illinois and Indiana locations provide us with a bigger and more diverse geographic footprint,” says Todd Becker, Green Plains president and CEO. “With nearly 1.5 billion gallons of production capacity, we are moving meaningful volumes across the agricultural and energy supply chains, further positioning us to serve both domestic and international markets efficiently and effectively.”

Husch Blackwell LLP acted as legal advisor to Green Plains in connection with the transaction. Carl Marks Advisors acted as financial advisors and DLA Piper acted as legal advisors to Abengoa Bioenergy.

REWmag.com reported in early September, ICM Inc., Colwich, Kansas, successful bid on the Colwich ethanol facility for sale by Abengoa Bioenergy.