Green Plains Inc. announced the sale of its Rives, Tennessee based ethanol plant to POET LLC for $190 million in cash.
Proceeds from the sale will be used to retire junior mezzanine debt due in 2026 and enhance liquidity.
The transaction is expected to close in the third quarter of 2025, pending customary closing conditions and regulatory approvals.
Strategic Sale
Sale of Obion facility to unlock shareholder value and strengthen the balance sheet.
Debt Reduction
Proceeds to fully retire junior mezzanine debt, enhancing financial flexibility.
Strategic Review Conclusion
Company to execute current strategy after comprehensive evaluation, enhancing operational execution.
- The sale demonstrates Green Plains' commitment to value creation for shareholders.
- Retiring the debt signifies a milestone in financial flexibility and advancement of the carbon reduction strategy.
The agreement with POET LLC marks a significant step towards Green Plains' strategic objectives and financial stability, aligning with the company's commitment to sustainable practices and shareholder value creation.