Abengoa completes sale of European ethanol business

By Erin Voegele | June 06, 2017

On June 1, Abengoa S.A. announced it has completed the sale of its European ethanol business to a company controlled by Trilantic Europe, a private equity fund. According to Abengoa, the transaction includes four ethanol plants and a company dedicated to the management of grain purchases and distillers dried grains with solubles (DDGS) commercialization.

A notice published by Abengoa indicates the sale was completed by its subsidiary Abengoa Bioenergía Inversiones S.A. and includes the transfer of shares associated with Abengoa Bioenergy France S.A., a 66 MMgy facility located at the at the Petrochemical Platform at Lacq, Pyrénées-Atlantiques, France; Biocarburantes de Castilla y León S.A., a 53 MMgy facility located in Babilafuente, Salamanca, Spain; Bioetanol Galicia S.A., a 52 MMgy plant located in Teixeiro, Coruña, Spain; Ecocarburantes Españoles S.A., a 40 Mmgy plant located in Cartagena, Murcia, Spain; and Ecoagrícola S.A., a company within the Abengoa Bioenergy business group that is focused on grain purchases and DDGS.

Abengoa sold its U.S. ethanol plants last year. Green Plains purchased facilities in Madison, Illinois; Mount Vernon, Indiana; and York Nebraska. KE Holdings LLC, an affiliate of KAPPA Inc., purchased the Ravenna, Nebraska, plant, while ICM Inc. bought the Colwich, Kansas, plant. The cellulosic ethanol plant in Hugoton, Kansas, was purchased by Synata Bio Inc. 

Abengoa first announced its plans to sell its non-core assests, including its first-generation ethanol plants, in January 2016 as part of a restructuring plan to avoid bankruptcy.