Gevo to acquire Red Trail Energy assets for $210 mln; shares rise
12/09/2024 14:15
** Shares of U.S.-based renewable fuels company Gevo Inc
GEVO.O rise 3.14% to 76 cents premarket
** Co to buy ethanol production plant and carbon capture and
sequestration assets from Red Trail Energy for $210 mln
** GEVO expects to finance the transaction with a
combination of asset-level debt and cash from the balance sheet
** Deal expected to close by 1Q25
** Co says it expects the acquisition to make its adjusted
EBITDA positive in 2025
** As of three months ended June 30, GEVO had reported adj.
EBITDA loss of $15.3 mln
** Up till last close, stock is down 36.09% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com))