Green Plains Inc. (NASDAQ:GPRE) announced that it has completed the previously announced sale of its ethanol plant in Rives, Tennessee, to POET Biorefining - Obion, LLC for $190 million in cash.
The total includes an estimated $20 million in working capital, to be finalized post-closing.
This transaction strengthens Green Plains’ balance sheet by eliminating the company’s junior mezzanine debt and enhancing liquidity. It provides greater financial flexibility consistent with the company’s strategy to optimize its portfolio and advance carbon reduction initiatives.
