VeraSun Energy Corporation has selected a buyer for seven of its ethanol plants, including four in Iowa. The Sioux Falls-based VeraSun filed for Chapter 11 bankruptcy protection in October. Today, company officials announced they’ve selected Valero Renewable Fuels of San Antonio, Texas as the successful bidder for ethanol plants in Albert City, Charles City, Fort Dodge and Hartley.
The deal includes three more plants in Nebraska, South Dakota, and Minnesota, plus a development site in Indiana. VeraSun is seeking approval of the $477-million bid at a court hearing in Delaware today.
The sale is expected to close in April.