Green Plains Inc. announced the completion of the previously announced sale of its ethanol plant in Rives, Tennessee, to POET Biorefining - Obion, LLC. The transaction was finalized for $190 million in cash, which includes an estimated $20 million in working capital.
The proceeds from this divestiture have been utilized to eliminate the company’s junior mezzanine debt, a key financial objective. This action significantly strengthens Green Plains’ balance sheet and enhances its overall liquidity position.
This completed sale provides Green Plains with greater financial flexibility, aligning with its strategic goal to optimize its portfolio and accelerate its carbon reduction initiatives. The move is expected to support the company's ongoing transformation into a value-added agricultural technology company.
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