Valero Snaps Up Trio Of Ethanol Plants For $272M

By James Armstrong

Law360, New York (December 15, 2009, 4:47 PM ET) -- Valero Energy Corp. has agreed to buy three ethanol plants in the Midwest for $272 million, the company announced Tuesday.

Valero Renewable Fuels Co. LLC, a wholly owned subsidiary of San Antonio-based Valero Energy, signed an agreement with ASA Ethanol Holdings LLC to buy two plants that had been owned by VeraSun Energy Corp.

The company was also the winning bidder in an auction for a third plant formerly owned by bankrupt Renew Energy Resources Inc.

ASA Ethanol acquired the first two plants through bankruptcy auction,...
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