In Washington, the Department of Energy, Department of Justice and other federal agencies are opposing Abengoa’s bankruptcy plan, saying at least part of the $130 million in subsidies the US government has plowed into the company over the years be recuperated. The case is set to be heard in a Delaware bankruptcy court on Tuesday. […]
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 […]
In Kansas, Ocean Park Advisors says there will be an auction for Abengoa’s cellulosic ethanol plant in Hugoton in October and they are 100% confident the facility will sell. The company says there has been a lot of interest in purchasing the facility, with more than 15 parties already having done site visits and engineering […]
In Kansas, ICM was the successful bidder of the Abengoa plant in Colwich located just a few hundred yards from the company’s headquarters. The company bought the facility that has been mothballed since November for $3.1 million. The ethanol plant was bought by Abengoa in 2001 and had been operating for 20 years before then. […]
In Nebraska, Green Plains announced that it was the successful bidder on three ethanol plants for sale by Abengoa Bioenergy conducted under the provisions of the U.S. Bankruptcy Code. The company will purchase the Madison, Ill., Mount Vernon, Ind. and York, Neb. ethanol facilities, with combined annual production capacity of 236 million gallons per year, […]
In Spain, Abengoa says it expects to receive approval of its restructuring plan by 75% of creditors by September 30 to comply with Spain’s bankruptcy rules but the company is still working towards getting enough support for the deal. Positive cash flow is then expected by the end of 2017, in part thanks to asset […]
In Spain, Abengoa has avoided the country’s largest-ever bankruptcy by coming to a deal with Centerbridge Partners LP, Elliott Management Corp. and Oaktree Capital Management LP in a $1.3 billion bailout who along with banks such as Santander will eventually own between 90% and 95% of the company. A teleconference with investors and analysts will […]
In Nebraska, Green Plains is splitting its aces, on one hand preparing to pay up to $275 million for an undisclosed “complementary part” of an undisclosed food company while selling $150 million in convertible senior notes due in 2022 to partially fund its purchase of two Abengoa ethanol plants. The company’s CEO back in 2013 […]
In Missouri, potential bidders appear to be lining up to buy Abengoa’s ethanol plants when they go to auction Aug. 22. Kaapa Ethanol and BioUrja Trading have both bid on plants while Green Plains agreed last month to pay $200 million for two facilities. During the boom when many ethanol plants were being built across […]
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 […]
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