Bankruptcy court signs off on sales of Abengoa’s ethanol plants

In Missouri, the bankruptcy court in St. Louis on Monday approved the sales of Abengoa’s ethanol plants that had been tentatively sold at auction over the past few weeks. Closing of the transactions that saw Green Plains walk away with three ethanol facilities along with KAAPA and ICM who each got one facility is estimated to take about 30 days. More than 80 companies participated in the sales process with more than 250 potential buyers contacted. With an average price of $1.17 per gallon installed, the current market price for corn-based ethanol plants has been established due to the auction.

Abengoa: The Digest’s 2015 5 Minute Guide