Green Plains gains on agreement to sell Tennessee ethanol plant to biofuel maker POET

Green Plains

27/08/2025 21:57

** Shares of biorefining firm Green Plains GPRE.O rise 8% to $10.75 in extended trading

** Company enters agreement with biofuel producer POET to sell its Tennessee-based ethanol plant, Obion, for $190 million in cash

** Adds that the proceeds from the sale will be utilized to pay off intermediate debt due in 2026 and enhance liquidity

** "This divestiture ... also enables us to fully retire our junior mezzanine notes — a significant milestone in enhancing our financial flexibility and advancing Green Plains' carbon reduction strategy" - CEO Chris Osowski

** Transaction is expected to close during Q3

** GPRE also announces conclusion of its strategic review process, which began in February 2024

** Up till last close, stock up ~5% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))