Green Plains Renewable Energy: Sale of Agribusiness Assets
OMAHA, Neb. - Green Plains Renewable Energy, Inc. (GPRE) announces that it has completed the previously-announced sale of 12 grain elevators located in northwestern Iowa and western Tennessee to The Andersons, Inc. (ANDE). The sale included approximately 32.6 million bushels of the Company's reported agribusiness grain storage capacity and all of its agronomy and retail petroleum operations. Green Plains expects to report a pre-tax gain from this sale in the fourth quarter of 2012 of approximately $46 million.
XMS Capital Partners served as financial advisor to Green Plains in the transaction.
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (GPRE) is North America's fourth largest ethanol producer, which markets and distributes approximately one billion gallons of renewable motor fuel annually. Green Plains owns and operates grain storage assets in the corn belt and biofuel terminals in the southern U.S. Green Plains is a joint venture partner in BioProcess Algae LLC, which was formed to commercialize advanced photo-bioreactor technologies for growing and harvesting algal biomass.
Jim Stark, Vice President - Investor and Media Relations
Green Plains Renewable Energy, Inc.