News

Two South Dakota ethanol plants changing hands

A Minnesota-based ethanol producer is selling its two ethanol plants in South Dakota and says it plans to liquidate the company altogether.

Advanced Bioenergy announced the sale of its plants in Aberdeen and Huron, South Dakota for $47.5 million to Glacial Lakes Energy, based in Watertown, South Dakota. The two plants have a combined production capacity of 86 million gallons.

Advanced BioEnergy says once the transaction is final, the company will be liquidated and the proceeds distributed to shareholders after outstanding debt and liquidation expenses are paid.

Glacial Lakes and its sister subsidiary currently own and operate ethanol plants in Watertown and Mina, South Dakota.