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Green Plains selling Iowa, Tennessee elevators

Published: Tuesday, Oct. 30, 2012 11:29 a.m. CDT

OMAHA, Neb. (AP) — Green Plains Renewable Energy Inc. says it’s selling 12 grain elevators in northwestern Iowa and western Tennessee to The Andersons Inc.

Green Plains, which is based in Omaha, says the sale of 32.6 million bushels of capacity is 83 percent of the company’s reported agribusiness grain storage capacity, plus all of its agronomy and retail petroleum operations.

The estimated sale price is $133.1 million, including the assumption of about $28.3 million in debt.

Green Plains CEO Todd Becker says the company will retain its grain-handling assets and anticipates future storage expansions at or near its Nebraska ethanol plants in Central City and Ord.

The Andersons is based in Maumee, Ohio. The company is involved in the grain, ethanol and plant nutrient sectors; turf and cob products; and consumer retailing.

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