In Nebraska, Green Plains Inc. has entered into an asset purchase agreement with POET to sell its Rives, Tennessee based ethanol plant for $190 million in cash, inclusive of an estimated $20 million of working capital, to be adjusted at closing. Proceeds from the sale will be utilized to retire the junior mezzanine debt due in 2026 and enhance liquidity. The transaction is anticipated to close during the third quarter of 2025, subject to customary closing conditions, regulatory approvals and contains standard representations, warranties, and indemnification obligations.
The company also announced the conclusion of its strategic review process, which began in February 2024. Following a comprehensive evaluation, the Board of Directors considered a range of alternatives and determined that the company is best positioned to deliver shareholder value by executing its current strategy under existing leadership. This outcome of the review has provided a clear roadmap for continued operational execution and capital discipline.
BMO Capital Markets Corp. and Moelis & Company served as financial advisors and Vinson & Elkins acted as legal advisors to Green Plains in connection with this transaction.