Court OKs $72M Renew Energy Sale To Valero

Law360, New York (December 17, 2009, 1:16 PM EST) -- A bankruptcy judge has approved the $72 million sale of bankrupt ethanol plant operator Renew Energy LLC to Texas energy company Valero Renewable Fuels Co. LLC, promising to wrap up the company's yearlong bankruptcy.

“The selling price is testament to the outstanding team we have established here at Renew,” CEO Jeff White said Tuesday.

“Together with our cutting-edge technology, this plant is one of the most efficient in the nation. Today’s valuation by Valero confirms our achievements over the last year,” he said. “Valero will soon...
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