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News Breaks
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January 4, 2012
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| 06:07 EDT |  | HW |
| theflyonthewall.com: | Headwaters sells its 51% ownership in Blue Flint Ethanol | | HEADWATERS announced that Great River Energy has acquired full ownership of Blue Flint Ethanol LLC, an ethanol biorefinery located in Underwood, ND, from Headwaters Ethanol Holdings LLC, a subsidiary of Headwaters Incorporated. Prior to this acquisition, Great River Energy owned 49% of Blue Flint Ethanol LLC and Headwaters Ethanol Holdings owned 51%..Under the terms of the agreement, effective January 1, 2012, Headwaters received approximately $18.5M in cash proceeds. Headwaters intends to use the net proceeds from the sale to reinvest in assets of its business and to strengthen its balance sheet.. :theflyonthewall.com |
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