In Missouri, Ocean Park Advisors has been retained by Abengoa Bioenergy to find a strategic partner or to complete a sale of Abengoa cellulosic ethanol plant, electricity cogeneration plant and related assets in Hugoton, Kansas. Additionally, there is an opportunity for interested parties to acquire the cellulosic technology and other intellectual property assets that are owned […]
In the Netherlands, Abengoa has reached a deal to sell its Rotterdam ethanol plant to a consortium led by Alcogroup including Vanden Avenne Commodities and Vandema which is expected to close in the next few weeks, a move that has helped to stabilize supply fears in the market. The plant has been closed since May […]
In Missouri, companies are lining up to bid for Abengoa’s US ethanol assets, with Green Plains offering $200 million in cash for the Mount Vernon and Madison plants, an affiliate of KAAPA Ethanol LLC bidding $115 million in cash for the Ravenna plant and BioUrja Trading offering $35 million in cash for the York plant. […]
In Nebraska, Abengoa has restarted its two ethanol plants in Ravenna and York as of May 20. The company is negotiating with natural gas supplies to reduce its fuel bill for production. Court filings show that Abengoa’s financial advisors have had success in drumming up interest in buying the company’s ethanol assets but no deals […]
In the Netherlands, ethanol exporters are closely eying the opportunity for arbitrage opportunities to open up as prices rise nearly 15% over the past 10 days since the confirmation that Abengoa’s Rotterdam ethanol plant has closed. Though price increases indicate opportunity for import demand soon, volumes contracted now won’t arrive until July or August. Increasing […]
In the Netherlands, Abengoa’s ethanol plant in Rotterdam has been confirmed closed, bringing Europe’s production deficit to 1.12 million cubic meters per year. The 480,000 cu m/year facility as well as the 241,000 cu m/year Salamanca ethanol facility that shut in April will be closed for an undetermined amount of time. Traders are not concerned […]
In Delaware, a judge in the U.S. Bankruptcy Court in Wilmington ruled Abengoa’s bankruptcy proceedings in Spain are the main proceedings and must take the lead in how creditors in the US are treated. The judge granted protection under Chapter 15, a bankruptcy code created in 2005 that allows foreign bankruptcy proceedings to take precedence. […]
In Mexico, while Abengoa got good news this week in Missouri when the bankruptcy court allowed it to access $41 million bankruptcy funding, on the other side of the border a court ordered that its assets were seized in response to a request by bondholders. The company said in a filing with the Mexican stock […]
In Missouri, the US Bankruptcy Court for the Eastern District of Missouri has approved the use of $41 million in bankruptcy funding for Abengoa Bioenergy to restart ethanol production at its Ravenna and York facilities as well as payroll obligations and other costs to keep the company operating. With the two plants operating, the company […]
In Spain, bankruptcy court has granted Abengoa until Oct. 28 to approve its restructuring plan that would see 70% of debt swapped for 35% of equity, while a $2 billion loan would give creditors 55% of the restructured company. Creditors who are willing to stump nearly another $1 billion in guarantees to develop projects would […]
