Nebraska Energy Co-op shareholders approve sale of 50 Mgy Nebraska Energy ethanol plant to Aventine for 1 million share in AVR, despite stock market plunge

In Nebraska, shareholders of the Nebraska Energy Cooperative approved the sale of NEC’s 21.58 percent stake in the 50 Mgy Nebraska Energy corn ethanol facility in Aurora, for a consideration of 1 million shares of Aventine stock. The approval was expected, but the unanticipated meltdown in Aventine’s stock this week amidst the global liquidity crunch, drove the effective purchase price down to $2 million. Aventine’s stock closed yesterday at $2.10, down from its 52-week high of $13.65. The approval makes Aventine the sole owner of the plant.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Aventine to acquire outstanding 21 percent of Nebraska ethanol plant for $4.94 million, from Nebraska Energy Co-op

In Nebraska, the Nebraska Energy Co-op's board approved the sale of its 21 percent stake in the Aurora ethanol plant to Aventine Renewable Energy for $4.94 million. In exchange, the co-op received 1 m...

Aventine suspends construction at 113 Mgy corn ethanol plant in Nebraska; cites ethanol economics

In Nebraska, Aventine Renewable Energy announced that it has suspended construction on its 113 Mgy corn ethanol plant in Aurora. The company said that the construction halt was scheduled to last six m...

Green Plains, Indiana Bio-Energy merger heads to shareholders for OK

In Nebraska, the proposed merger between Green Plains Renewable Energy Inc. and VBV, majority owner of Indiana Bio-Energy has been submitted to shareholders for approval. Iniania Bio-Energy commence o...

VBV shareholders approve merger with Green Plaains Renewable Energy, will invest $60 million in new equity for GPRE

In Illinois, shareholders at VBV and its subsidiaries Indiana Bio-Energy and Ethanol Grain Processors approved a merger with Green Plains Renewable Energy. The shareholders of Green Plains are expecte...

Aventine’s 226 Mgy Nebraska plant moves into construction phase

In Nebraska, construction is underway on a 226 Mgy ethanol plant in Aurora. The Aurora Co-Op project with Aventine Renewables has a price tag of $300 million. The air permit was received earlier this ...

Nebraska ethanol plant seeks $157 million to triple production capacity to 128 MGY

In Nebraska, Cornhusker Energy is seeking $157 million needed to finance expansion of its production capacity to 128 million gallons per year (Mgy) from 42 Mgy. The Lexington, NE City Council has b...