Aventine to complete purchase of Nebraska Energy

By Erin Voegele | October 06, 2008
Web exclusive posted Oct. 10, 2008 at 9:47 a.m. CST

Pekin, Ill.-based Aventine Renewable Energy Holdings Inc. announced Oct. 8 that its purchase of Nebraska Energy Co-op Inc.'s interest in Nebraska Energy LLC has been approved by Nebraska Energy Co-op stockholders. Aventine will purchase Nebraska Energy Co-op's 21.58 percent interest in Nebraska Energy, a 50 MMgy ethanol production facility in Aurora, Neb., for 1 million shares of Aventine's common stock. All conditions to the closing of the transaction have now been satisfied and the transaction is expected to close soon. As a result of the transaction, Aventine will own 100 percent of Nebraska Energy.