December 18, 2020
A subsidiary of Green Plains Inc. has consented to offer its 100-million-gallon ethanol plant in Hereford to Hereford Ethanol Partners, L.P. for $39 million, plus functioning capital, and an earnout provision of as much as $75 million associated to specific value enhancement chances.
The Environment-friendly Plains subsidiary, Green Plains Hereford LLC, has actually likewise participated in a property acquisition arrangement with Environment-friendly Plains Allies LP and also its affiliates to obtain the storage as well as transportation properties and also the project of railcar leases related to the Hereford ethanol plant for $10 million.
“The sale of the Hereford ethanol center enables us to reallocate funding to support the increased buildout of our Ultra-High Protein modern technology and proceed our overall change to an ag-tech focused business,” claimed Todd Becker, head of state and also CEO of Green Plains.
Hereford Ethanol Allies, L.P. is a recently formed, wholly-owned subsidiary of a privately-held Texas financial investment team.
Picture politeness of Synergen Consulting.
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