Green Plains Inc. announced it has entered into an asset purchase agreement with POET to sell its Rives, Tennessee-based ethanol plant for $190 million in cash. The total consideration includes an estimated $20 million of working capital, subject to adjustment at closing.
The proceeds from this significant divestiture are earmarked for the retirement of the company's junior mezzanine debt, which is due in 2026. This strategic move is expected to substantially strengthen Green Plains' balance sheet and enhance its overall liquidity.
The transaction is anticipated to close during the third quarter of 2025, subject to customary closing conditions. This sale aligns with Green Plains' strategy to optimize its portfolio and improve financial flexibility as it advances its carbon reduction initiatives.
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