Green Plains Renewable to Buy Two VeraSun Plants for $123.5 Million

---

Researched by Industrial Info Resources (Sugar Land, Texas)--RBF Acquisition II (St. Louis, Missouri) and RBF Acquisition VI LLC, the owners of two Nebraska ethanol plants, plans to close on the sale of the plants to Green Plains Renewable Energy Incorporated (NASDAQ:GPRE) (Omaha, Nebraska) by mid to late June and have the plants up and running again by July.

Last week Green Plains said it would pay $123.5 million for the two plants, located in Central City and Ord, Nebraska. One of the plants is owned by RBF Acquisition VI LLC in Ord, a 50 million-gallon-per-year facility that will be purchased for $38 million. The other plant, which is located in Central City and produces 100 million gallons per year, is owned by RBF Acquisition II LLC and will be purchased for $85.5 million.

The plants were previously owned by now-bankrupt VeraSun Energy (OTC:VSUNQ) (Sioux Falls, South Dakota), which is now in reorganization and has filed a Chapter 11 petition so that it can meet the claims of those to whom it owes money.

Documents uncovered by Industrial Info from the Delaware Bankruptcy Litigation shows VeraSun's 10 largest creditors are Wells Fargo, $477 million; Fagen Incorporated, $16.6 million; Cargill, $12.9 million; Haas TCM Processing, $5.4 million; Union Pacific Railroad, $5.3 million; Crown Iron Works, $2.8 million; Norfolk Southern, $2.5 million; CSX Transportation, $2.2 million; Citigroup, $2.1 million; and ICM Incorporated, $2.1 million.

The two plants have not been running and producing ethanol since the fourth quarter of 2008. When the deal closes, Green Plains will have the capacity to produce 480 million gallons of fuel ethanol from a total of six plants.

Industrial Info's Ethanol Database provides a comprehensive outline of all current development activities in the emerging alternative fuels market. This database covers 177 ethanol plants in operation and 530 plants under development. It also covers 145 operational biodiesel plants and 245 biodiesel plants under development.

View Plant Profile - 1060123 1067849

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news.