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Two NE ethanol firms make offer for Abengoa plants

Two Nebraska-based ethanol companies reportedly have offered to purchase four of Abengoa Bioenergy’s seven ethanol plants.

According to DTN, the U.S. holding company of the bankrupt Spanish company Abengoa will auction off the company’s ethanol plants this summer.

DTN says the holding company has chosen so-called “stalking horse bidders” to make the first bid on plants in Illinois, Indiana, Nebraska, Kansas and New Mexico.

DTN says KAAPA Ethanol Holdings of Minden, Nebraska made a $115-Million offer for the Ravenna, Nebraska plant. And Green Plains of Omaha made a $200 million offer for Abengoa’s plant in Madison, Illinois and Mount Vernon, Indiana.

Stalking horse bids allow a bankrupt debtor to test the market for its assets ahead of an auction of those assets.