Green Plains sells agribusiness assets to The Andersons

Dec 4, 2012 - US ethanol producer Green Plains Renewable Energy Inc (NASDAQ:GPRE) said Monday it had completed the previously announced sale of its agribusiness facilities to The Andersons Inc (NASDAQ:ANDE).

Under the terms of the deal, Green Plains sold its 12 grain elevators in Iowa and Tennessee, representing about 32.6 million bushels of storage capacity. It also disposed of all of its agronomy and retail petroleum activities.

The sale is expected to generate a pre-tax gain of some USD 46 million (EUR 35m) for Green Plains in the fourth quarter of 2012.

The deal was first announced on October 29, 2012. The estimated sales price for the assets at the time was USD 133.1 million, including the assumption of term debt of some USD 28.3 million by The Andersons.

(USD 1 = EUR 0.766)

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