US BioEnergy acquires Millennium Ethanol for $133.3 million

US BioEnergy Corp. (Nasdaq: USBE) announced the pricing of its acquisition of Millennium Ethanol. The determined price was $133.3 million, including $11.8 million in cash and $122 million in stock, for the transaction initially announced in May. The stock was valued at $10.57 in the transaction, although US BioEnergy closed yesterday at $10.17.

The Millenium acquisition will bring the St. Paul-based US BioEnergy’s holdings to five ethanol plants, with an additional three under construction, including a new Millenium plant in South Dakota scheduled for opening next year.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Four Rivers Bioenergy acquires Kreido Biofuels assets, will use in Kentucky biodiesel project

In Kentucky, Kreido Biofuels announced the sale of all its material assets to Four Rivers BioEnergy, which thereby acquires Kreido’s spinning tube-in-tube STT reactors, and modular biodiesel product...

AgMotion acquires distillers grains business units from US BioEnergy

AgMotion announced that it had acquired UBE Services and United BioEnergy Ingredients from US BioEnergy Corporation. UBE services is a distillers grains marketing service, while AgMotion is a Minnea...

US BioEnergy opens 110 Mgy corn ethanol plant in South Dakota

In South Dakota, US BioEnergy Corporation announced that its 110 Mgy corn ethanol plant in Marion began production this week. The plant had been acquired in August 2007 while under construction. The ...

Renewable Energy Group acquires US Biodiesel for $80 million

In Iowa, the Renewable Energy Group acquired the assets of US Biodiesel Group in a transaction valued at $80 million. With the deal, REG acquires a 35 Mgy biodiesel plant in Texas and a storage termin...

US BioEnergy reports increase profits for third quarter despite industry woes; cites cost-cutting, hedging efforts as keys

US BioEnergy (USBE) reported third quarter profits of $11.1 million in $148.9 million in revenues. Third quarter profits in 2006 were $8.3 million on revenues of $154.4 million. The company said that ...

Four Rivers BioEnergy acquires England’s V-Fuels biodiesel plant: will restart with multi-feedstock focus

In England, Four Rivers BioEnergy announced that it has acquired the previously shuttered V-Fuels Biodiesel plant and 140-acre site in Northumberland. The new owners said that they will focus on waste...