VeraSun's Aurora Plant Sold With Others

Posted on Wednesday, April 1, 2009

AP-SD--VeraSun Sale,0118

VeraSun closes sale of 5 ethanol plants to Valero

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SIOUX FALLS, S.D. (AP) - VeraSun Energy Corp. said Wednesday it has closed on the sale of five ethanol plants and one development site to traditional refiner Valero Energy Corp. VeraSun, which filed for Chapter 11 October, auctioned off its assets. Valero submitted a successful bid of $477 million for plants in Aurora, S.D.; Charles City, Fort Dodge, and Hartley, Iowa; Welcome, Minn.; a development site in Reynolds, Ind., and two additional plants.

VeraSun said closing on the Albert City, Iowa, and Albion, Neb., plants is expected in the coming weeks.

Valero is grouping the plants under a subsidiary, Valero Renewable Fuels. Valero shares gained 9 cents to $17.99 in morning trading Wednesday.

(Copyright 2009 by The Associated Press. All Rights Reserved.)