Green Plains Sells Ethanol Plant to Repay Debt Held by BlackRock

Green Plains Inc., a major biofuels company, has agreed to sell one of its ethanol plants to repay debt held by BlackRock Inc. funds. This decision comes as part of a strategic review conducted by the company, which explored various alternatives, including a potential sale. The sale of the plant is aimed at reducing Green Plains' debt burden and strengthening its financial position. The company has been facing challenges in the biofuels industry, which has been impacted by various market conditions and policy changes. The transaction with BlackRock, a leading investment management firm, is expected to provide Green Plains with the necessary funds to repay the outstanding debt. This move is seen as a strategic step by the company to navigate the current market environment and focus on its core business operations. The article does not provide specific details about the plant being sold or the financial terms of the transaction, but it highlights the ongoing challenges faced by the biofuels industry and the need for companies to make strategic decisions to address their debt and financial challenges.