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August 21, 2007
Brookings-based VeraSun Energy announced Monday that it closed its acquisition from ASAlliances Biofuels of three ethanol plants with a combined annual production capacity of 330 million gallons per year.
VeraSun, one of the nation's largest ethanol producers, announced the deal in July. The three plants are in Linden, Ind.; Albion, Neb.; and Bloomingburg, Ohio.
The company paid for the acquisition with $200 million of equity, $250 million in cash and $275 million in project financing.
The Linden facility began startup operations last month. Construction work on the Albion plant is to be finished late this year. Work on the Bloomingburg facility is to be finished in early 2008.
VeraSun has operating plants in Aurora and Fort Dodge and Charles City, Iowa. Construction also is under way in Hartley, Iowa; Welcome, Minn, and Reynolds, Ind.