BUZZ-Gevo to acquire Red Trail Energy assets for $210 mln; shares rise
Reuters · 09/12 15:54
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** Shares of U.S.-based renewable fuels company Gevo Inc GEVO.O rise 26.44% to 94 cents
** Co to buy ethanol production plant and carbon capture and sequestration assets from Red Trail Energy for $210 mln
** GEVO expects to finance the transaction with a combination of asset-level debt and cash from the balance sheet
** Deal expected to close by 1Q25
** Co says it expects the acquisition to make its adjusted EBITDA positive in 2025
** For the quarter ended June 30, GEVO had reported adj. EBITDA loss of $15.3 mln
** Including session's move, stock down 19.59% YTD
(Reporting by Pooja Menon in Bengaluru)
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