GPP - Green Plains Inc. Gets Good Value For Its Assets
U.S. ethanol producer Green Plains, Inc. (GPRE) announced another major asset sale last week when it reached an agreement to sell subsidiary Fleischmann's Vinegar Company to Kerry Group for $350 million in cash. The transaction, which is expected to close before the end of the year, represents another major step forward in the company's transition from independent ethanol producer to diversified agricultural commodity processor and follows the sale earlier this month of 20% of its ethanol production capacity for $300 million, also in cash. Illustrating the primary motivation behind the company's strategic shift,