Green Plains concludes USD-237m buy of Abengoa plants

US ethanol producer Green Plains Inc (NASDAQ:GPRE) said today it has wrapped up its previously announced USD-237-million (EUR 210.5m) acquisition of three ethanol plants from Abengoa Bioenergy.

The company succeeded in buying Abengoa’s plants in Madison, Illinois and Mount Vernon, Indiana, as well as the facility in York, Nebraska, after acting as the stalking horse bidder for two of the assets in a sale process held this summer.

The purchase adds 236 million gallons per year of ethanol production capacity, the company said. It has already sold the ethanol storage assets to Green Plains Partners LP (NASDAQ:GPP) for USD 90 million.

"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," said Todd Becker, president and CEO of Green Plains.

Abengoa Bioenergy is a unit of Spanish engineering and renewables group Abengoa SA (BME:ABG), which commenced insolvency proceedings at home in late November 2015.

(USD 1.0 = EUR 0.888)

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