Verbio Vereinigte BioEnergie to buy majority stake in German crops provider

(ADPnews) - Sep 30, 2010 - German biofuel producer Verbio Vereinigte BioEnergie AG (ETR:VBK) announced on Tuesday it signed a contract to acquire 89.35% of local crops provider Maerka GmbH.

Verbio will pay EUR 24.57 million (USD 33m), including cash and the transfer of around 1.5 million own shares.

The acquisition is still subject to approvals by the company's supervisory board and by antitrust authorities.

Maerka provides crop, oil seeds, legumes and straw. Owning a stake in the firm, Verbio will have direct access to in-house raw material supply, needed for green-fuel production.

(EUR 1.0 = USD 1.359)

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