Bankruptcy court OKs Synata Bio to buy Hugoton plant

December 1, 2016 |

In Kansas, a district bankruptcy court has given Synata Bio the green light to buy Abengoa Bioenergy’s Hugoton cellulosic ethanol facility for $48.5 million despite Shell’s stalking horse bid of $26 million. Synata Bio submitted a $27.05 million qualified bid on Nov. 18, so when both companies went to auction on Nov. 21, Shell stopped at $40.75 million, leaving Synata Bio the winner. The deal that includes the plant, equipment, intellectual property for the production process and 400 acres is set to close on Dec. 5.

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Category: Fuels

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