Deals
American Drivers Fueling a Wave of Deals for Ethanol Makers
- Ethanol demand has jumped to record as gasoline use rises
- Green Plains on Monday bought two plants from Spanish company
Vehicles move slowly in rush hour traffic on the US 101 freeway in this aerial photograph taken over the Sherman Oaks neighborhood of Los Angeles, California, U.S., on Friday, July 10, 2015.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
America’s renewed love affair with driving could reshape the U.S. ethanol industry.
Green Plains Inc. said Monday it agreed to buy two plants from Spain’s Abengoa SA, and the European company separately said it would sell two other mills -- with the four sales totaling $350 million. Also in play is The Andersons Inc.’s biofuel arm, which HC2 Holdings Inc. has been jockeying to acquire while working with a strategic partner. Further consolidation is probably on the way, Jefferies LLC analysts including Laurence Alexander said in a report Tuesday.