BioFuel Energy wasn’t notified by lenders of ethanol plant sales to GPRE

November 6, 2013 |

In Nebraska, apparently BioFuel Energy wasn’t made aware by its lenders that it had sold the company’s two ethanol plants to Green Plains Renewable Energy and only became aware of the sale when they saw the press release. GPRE says it tried to contact the company ahead of the press release out of courtesy but wasn’t able to reach anyone. BioFuel Energy says it made an offer of similar value to its lenders but the offer lapsed. It has about $10 million in cash on hand no affected by the sale and has not ruled out litigation.

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Category: Fuels

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