Green Plains Finalizes Abengoa Acquisition

Joanna Schroeder

greenplainsGreen Plains Inc. has announced the completion of the acquisition of three ethanol plants from Abengoa Bioenergy. The biorefineries are located in Madison, Ill., Mount Vernon, Ind. and York, Neb and were purchased for approximately $237 million in cash plus some working capital adjustments. The ethanol facilities are currently in operation and will produce 236 million gallons per year of ethanol combined. With the purchase complete, Green Plains has sold the ethanol storage assets acquired from Abengoa to Green Plain Partners for $90 million.

In the past 12 months, we have expanded our ethanol production capacity by approximately 50 percent. Adding the Illinois and Indiana locations provide us with a bigger and more diverse geographic footprint,” said Todd Becker, president and chief executive officer at Green Plains. “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.

Husch Blackwell LLP acted as legal advisor to Green Plains in connection with the transaction. Carl Marks Advisors acted as financial advisors and DLA Piper acted as legal advisors to Abengoa Bioenergy.

biofuels, Ethanol