Green Plains Renewable Energy to acquire two bankrupt VeraSun ethanol plants for $123.5 million

In Nebraska, Green Plains Renewable Energy announced that it will acquire two of the bankrupt VeraSun Energy ethanol plants from a group of lenders led by AgStar Financial Services, for $123.5 million.

With the acquisition, Green Plains will have a total ethanol production capacity of 480 Mgy. There are three remaining plants to be sold from the group originally acquired by AgStar for $324 million in the VeraSun Energy bankruptcy auction. AgStar said it expects to divest the remaining three plants in North Dakota, Minnesota and Iowa to multiple buyers by the end of July.

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