Omaha-based Green Plains Renewable Energy said Tuesday that it's agreed to buy Minneapolis-based Global Ethanol for $169.2 million, including the assumption of $98.7 million in debt.
Privately held Global Ethanol has production facilities in Lakota, Iowa, and Riga, Mich. Publicly traded Green Plains says it is the nation's fourth-largest ethanol producer, operating six plants.
The Global Ethanol plants have a total production capacity of 157 million gallons. The acquisition will increase Green Plains' overall capacity by 31 percent.
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