GPRE - Green Plains to sell Hereford ethanol plant for $39M

Green Plains ([[GPRE]], [[GPP]]) agrees to sell its 100M-gallon ethanol plant in Hereford, Tex., to Hereford Ethanol Partners for $39M and an earnout provision of as much as $75M related to enhancement opportunities including future earnings from Low Carbon Fuel Standard credits.Green Plains Hereford also agrees to acquire the storage and transportation assets and the assignment of railcar leases associated with the Hereford ethanol plant from Green Plains Partners for $10M, which will be utilized to pay down the partnership's debt.Not including the value related to the earnout provision, Green Plains says it will record a pre-tax $23M charge related to the transaction.

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Green Plains to sell Hereford ethanol plant for $39M