Green Plains closes purchase of Global Ethanol

(ADPnews) - Oct 25, 2010 - US ethanol producer Green Plains Renewable Energy (NASDAQ:GPRE) announced Friday that it had completed the take-over of fellow Global Ethanol LLC along with its two operational ethanol facilities.

Following the USD-169.2-million (EUR 121m) worth acquisition, Green Plains has lifted its clean fuel production capacity by 31% to around 657 million gallons (2.5 billion litres) per year and anticipates to distribute over 1 billion gallons of ethanol on an annual basis.

The value of the transaction includes the assumption of outstanding debt, which amounted to some USD 98.7 million at that time.

(USD 1.0 = EUR 0.718)

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