Green Plains Completes Sale of Agribusiness Assets
OMAHA, Neb., Dec. 3, 2012 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy,
Inc. (Nasdaq:GPRE) announces today that it has completed the
previously-announced sale of 12 grain elevators located in northwestern Iowa
and western Tennessee to The Andersons, Inc. (Nasdaq:ANDE). The sale included
approximately 32.6 million bushels of the Company's reported agribusiness
grain storage capacity and all of its agronomy and retail petroleum
operations. Green Plains expects to report a pre-tax gain from this sale in
the fourth quarter of 2012 of approximately $46 million.
XMS Capital Partners served as financial advisor to Green Plains in the
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) is North America's fourth
largest ethanol producer, which markets and distributes approximately one
billion gallons of renewable motor fuel annually. Green Plains owns and
operates grain storage assets in the corn belt and biofuel terminals in the
southern U.S. Green Plains is a joint venture partner in BioProcess Algae LLC,
which was formed to commercialize advanced photo-bioreactor technologies for
growing and harvesting algal biomass.
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, as amended. Such
statements are identified by the use of words such as "anticipates,"
"believes," "estimates," "expects," "goal," "intends," "plans," "potential,"
"predicts," "should," "will," and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance.
Such statements are based on management's current expectations and are subject
to various factors, risks and uncertainties that may cause actual results,
outcome of events, timing and performance to differ materially from those
expressed or implied by such forward-looking statements. Green Plains may
experience significant fluctuations in future operating results due to a
number of economic conditions, including, but not limited to, competition in
the ethanol and other industries in which the Company operates, commodity
market risks including those that may result from current weather conditions,
financial market risks, counter-party risks, risks associated with changes to
federal policy or regulation, risks related to closing and achieving
anticipated results from acquisitions, risks associated with the joint venture
to commercialize algae production and the growth potential of the algal
biomass industry, and other risks detailed in the Company's reports filed with
the Securities and Exchange Commission, including its Annual Report on Form
10-K for the year ended December 31, 2011, and in the Company's subsequent
filings with the SEC. In addition, the Company is not obligated, and does not
intend, to update any of its forward-looking statements at any time unless an
update is required by applicable securities laws.
CONTACT: Jim Stark, Vice President - Investor and Media Relations
Green Plains Renewable Energy, Inc.
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